Karachi, December 06, 2022 – The State Bank of Pakistan (SBP) has published the foreign exchange rates for today, based on the weighted average rates of commercial banks.
The exchange rates provide crucial information about the buying and selling prices of various foreign currencies against the Pakistan Rupee (PKR).
As of December 06, 2022, the exchange rates for different currencies are as follows:
• UAE Dirham (AED): Buying – 61.0001 PKR, Selling – 61.1086 PKR
• Australian Dollar (AUD): Buying – 150.4795 PKR, Selling – 150.7600 PKR
• Canadian Dollar (CAD): Buying – 164.6762 PKR, Selling – 164.9664 PKR
• Swiss Franc (CHF): Buying – 237.1039 PKR, Selling – 237.5341 PKR
• Chinese Yuan (CNY): Buying – 32.0537 PKR, Selling – 32.1100 PKR
• Euro (EUR): Buying – 234.8428 PKR, Selling – 235.2806 PKR
• UK Pound (GBP): Buying – 272.8271 PKR, Selling – 273.3259 PKR
• Japanese Yen (JPY): Buying – 1.6319 PKR, Selling – 1.6349 PKR
• Saudi Riyal (SAR): Buying – 59.5633 PKR, Selling – 59.6703 PKR
• US Dollar (USD): Buying – 223.8994 PKR, Selling – 224.3154 PKR
The foreign exchange rates are vital indicators for businesses, investors, and individuals involved in international trade and finance. These rates are determined by the weighted averages of commercial banks, reflecting the market sentiment and economic conditions.
The US Dollar maintains its prominent position in the foreign exchange market, with a buying rate of 223.8994 PKR and a selling rate of 224.3154 PKR. This indicates the ongoing demand for the US Dollar in various economic transactions and trade activities.
The Euro, another major currency, stands at 234.8428 PKR (buying) and 235.2806 PKR (selling), while the UK Pound has a buying rate of 272.8271 PKR and a selling rate of 273.3259 PKR.
Fluctuations in exchange rates can have significant implications for the economy, affecting the cost of imports, exports, and overall economic stability. Investors and businesses closely monitor these rates to make informed decisions and manage currency-related risks.
The State Bank of Pakistan, as the country’s central bank, plays a crucial role in regulating and stabilizing the foreign exchange market. The timely release of exchange rates ensures transparency and provides valuable information for economic participants.
Analysts suggest that global economic conditions, geopolitical events, and market trends can influence exchange rate movements. Therefore, stakeholders are advised to stay informed and adapt their strategies accordingly.
In conclusion, the foreign exchange rates announced by the State Bank of Pakistan on December 06, 2022, offer valuable insights into the dynamics of the foreign exchange market. These rates serve as a reference point for businesses and individuals engaged in international transactions and contribute to the overall economic landscape of Pakistan.
