KARACHI – The State Bank of Pakistan (SBP) has released the foreign exchange rates for November 21, 2022, offering a comprehensive look at the value of the Pakistani Rupee (PKR) against major international currencies.
These rates, established on the basis of the weighted average rates of commercial banks, serve as crucial benchmarks for trade, investments, and financial activities.
As of November 21, 2022, the buying and selling rates for specific foreign currencies in PKR are as follows:
• UAE Dirham (AED):
• Buying: 60.8926 PKR
• Selling: 61.0000 PKR
• Australian Dollar (AUD):
• Buying: 148.4940 PKR
• Selling: 148.7608 PKR
• Canadian Dollar (CAD):
• Buying: 166.5852 PKR
• Selling: 166.8847 PKR
• Swiss Franc (CHF):
• Buying: 233.6912 PKR
• Selling: 234.1109 PKR
• Chinese Yuan (CNY):
• Buying: 31.2268 PKR
• Selling: 31.2788 PKR
• Euro (EUR):
• Buying: 229.5947 PKR
• Selling: 230.0159 PKR
• UK Pound (GBP):
• Buying: 264.2425 PKR
• Selling: 264.7250 PKR
• Japanese Yen (JPY):
• Buying: 1.5887 PKR
• Selling: 1.5916 PKR
• Saudi Riyal (SAR):
• Buying: 59.4763 PKR
• Selling: 59.5819 PKR
• US Dollar (USD):
• Buying: 223.5020 PKR
• Selling: 223.9181 PKR
These exchange rates are instrumental for businesses, investors, and individuals involved in cross-border transactions. The USD to PKR exchange rate, a key benchmark for international transactions, stands at 223.5020 PKR for buying and 223.9181 PKR for selling on this specific date.
Fluctuations in exchange rates can have profound effects on various sectors of the economy. A stronger PKR may make imports more affordable but could pose challenges for exporters. Conversely, a weaker PKR might boost exports but may increase the cost of imported goods.
The SBP’s regular updates on exchange rates contribute to the transparency of the foreign exchange market, enabling businesses and investors to make well-informed decisions. Central banks, including the SBP, often intervene in the foreign exchange market to stabilize their national currencies and ensure economic stability.
Economic analysts will closely scrutinize these rates to discern trends, potential impacts on the domestic economy, and offer insights into the broader economic landscape. As the global economic environment continues to evolve, the SBP’s timely and accurate information on foreign exchange rates remains essential for navigating the complexities of international finance and trade.