KARACHI, December 09, 2022 — The State Bank of Pakistan (SBP) has unveiled the foreign exchange rates for customers on this Friday, providing a snapshot of the currency exchange landscape in Pakistan.
These rates, based on the weighted average rates of commercial banks, play a crucial role in facilitating international trade, investments, and other financial transactions.
As of December 09, 2022, the buying and selling rates for various foreign currencies in Pakistan Rupee (PKR) are as follows:
• UAE Dirham (AED):
• Buying: PKR 61.0948
• Selling: PKR 61.2019
• Australian Dollar (AUD):
• Buying: PKR 152.1280
• Selling: PKR 152.4066
• Canadian Dollar (CAD):
• Buying: PKR 165.0125
• Selling: PKR 165.3070
• Swiss Franc (CHF):
• Buying: PKR 240.2607
• Selling: PKR 240.6999
• Chinese Yuan (CNY):
• Buying: PKR 32.2642
• Selling: PKR 32.3207
• Euro (EUR):
• Buying: PKR 237.2653
• Selling: PKR 237.7057
• UK Pound (GBP):
• Buying: PKR 275.0283
• Selling: PKR 275.5467
• Japanese Yen (JPY):
• Buying: PKR 1.6482
• Selling: PKR 1.6511
• Saudi Riyal (SAR):
• Buying: PKR 59.6479
• Selling: PKR 59.7548
• US Dollar (USD):
• Buying: PKR 224.2428
• Selling: PKR 224.6589
These rates are indicative and serve as reference points for individuals and businesses engaged in cross-border transactions. The SBP, through its regular release of foreign exchange rates, contributes to the transparency and efficiency of the currency market.
The weighted average rates of commercial banks are utilized to calculate these rates, reflecting the prevailing market conditions and the performance of various currencies against the Pakistani Rupee.
Market participants, including importers, exporters, investors, and individuals, closely monitor these rates as they impact the cost of transactions, investment returns, and overall economic stability. Fluctuations in exchange rates are influenced by global economic trends, geopolitical events, and market sentiment.
The SBP encourages market participants to stay updated on the latest foreign exchange rates, as they are subject to change based on various factors. The central bank remains committed to fostering a robust and transparent foreign exchange market that contributes to the stability and growth of Pakistan’s economy.
As the year comes to a close, these exchange rates provide valuable insights for businesses and individuals planning their financial activities, ensuring they are well-informed to make strategic decisions in the realm of international finance.
