SBP’s weighted average customer exchange rates on January 20, 2023

SBP’s weighted average customer exchange rates on January 20, 2023

KARACHI – In a statement released on Friday, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for January 20, 2023.

The rates, determined on the basis of weighted average rates of commercial banks, provide insights into the buying and selling prices of various foreign currencies against the Pakistani Rupee (PKR).

The latest exchange rates on January 20, 2023 are as follows:

• UAE Dirham (AED):

• Buying: 62.5355 PKR

• Selling: 62.6447 PKR

• Australian Dollar (AUD):

• Buying: 158.9966 PKR

• Selling: 159.2863 PKR

• Canadian Dollar (CAD):

• Buying: 170.5608 PKR

• Selling: 170.8597 PKR

• Swiss Franc (CHF):

• Buying: 250.4125 PKR

• Selling: 250.8569 PKR

• Chinese Yuan (CNY):

• Buying: 33.8653 PKR

• Selling: 33.9197 PKR

• Euro (EUR):

• Buying: 248.6696 PKR

• Selling: 249.1081 PKR

• UK Pound (GBP):

• Buying: 283.8719 PKR

• Selling: 284.3829 PKR

• Japanese Yen (JPY):

• Buying: 1.7786 PKR

• Selling: 1.7817 PKR

• Saudi Riyal (SAR):

• Buying: 61.1150 PKR

• Selling: 61.2217 PKR

• US Dollar (USD):

• Buying: 229.5360 PKR

• Selling: 229.9521 PKR

The foreign exchange rates provided by the SBP play a crucial role in determining the value of the Pakistani Rupee against various international currencies. These rates are derived from the weighted average rates of commercial banks, reflecting the current market conditions and demand for foreign currencies in Pakistan.

The UAE Dirham (AED) is being traded at a buying rate of 62.5355 PKR and a selling rate of 62.6447 PKR, indicating a slight fluctuation in the exchange rate. Meanwhile, the US Dollar (USD), a key currency in international trade, has a buying rate of 229.5360 PKR and a selling rate of 229.9521 PKR.

The Euro (EUR), UK Pound (GBP), and Swiss Franc (CHF) are also among the major currencies listed, with buying and selling rates reflecting the dynamic nature of the foreign exchange market. These rates are subject to change based on global economic conditions, geopolitical events, and other factors influencing currency valuations.

The State Bank of Pakistan continues to closely monitor and regulate the foreign exchange market to ensure stability and transparency. The announced rates will guide businesses, investors, and individuals involved in international transactions, providing them with valuable information to make informed decisions.

As the global economy remains interconnected, the foreign exchange rates announced by the SBP not only impact trade and investment but also influence the overall economic landscape of Pakistan. The central bank’s commitment to maintaining a fair and competitive foreign exchange market is essential for the country’s economic growth and stability.