State Bank issues foreign exchange rates on December 12, 2022

State Bank issues foreign exchange rates on December 12, 2022

KARACHI: The State Bank of Pakistan (SBP) has disclosed the foreign exchange rates for December 12, 2022, providing a comprehensive overview of the currency market’s performance.

These rates, established on the basis of weighted average rates reported by commercial banks, play a pivotal role in shaping economic decisions, influencing trade, investment, and financial planning.

Here is a detailed breakdown of the buying and selling rates for major foreign currencies in PKR on December 12, 2022:

• UAE Dirham (AED):

• Buying: 61.1543 PKR

• Selling: 61.2634 PKR

• Australian Dollar (AUD):

• Buying: 152.0221 PKR

• Selling: 152.2927 PKR

• Canadian Dollar (CAD):

• Buying: 164.4277 PKR

• Selling: 164.7211 PKR

• Swiss Franc (CHF):

• Buying: 239.7426 PKR

• Selling: 240.1764 PKR

• Chinese Yuan (CNY):

• Buying: 32.1962 PKR

• Selling: 32.2489 PKR

• Euro (EUR):

• Buying: 236.1770 PKR

• Selling: 236.6150 PKR

• UK Pound (GBP):

• Buying: 274.5214 PKR

• Selling: 275.0190 PKR

• Japanese Yen (JPY):

• Buying: 1.6394 PKR

• Selling: 1.6424 PKR

• Saudi Riyal (SAR):

• Buying: 59.6969 PKR

• Selling: 59.8031 PKR

• US Dollar (USD):

• Buying: 224.4656 PKR

• Selling: 224.8817 PKR

The rates for the UAE Dirham (AED) and Saudi Riyal (SAR) are particularly noteworthy for businesses engaged in trade with the Middle East, standing at 61.1543 PKR and 61.2634 PKR for AED and 59.6969 PKR and 59.8031 PKR for SAR, respectively.

The USD to PKR exchange rate, a critical metric for economic activities, is at 224.4656 PKR for buying and 224.8817 PKR for selling. This rate is crucial for determining trade balances, inflation, and overall economic stability. As a closely monitored indicator, it influences various sectors and financial markets.

The Euro (EUR) is quoted at 236.1770 PKR for buying and 236.6150 PKR for selling, while the UK Pound (GBP) stands at 274.5214 PKR for buying and 275.0190 PKR for selling. These rates offer insights into the performance of the Pakistani Rupee against major European currencies.

As businesses and investors navigate the complexities of the global economy, these exchange rates serve as invaluable tools for evaluating the cost of imports, the value of exports, and overall economic stability. Fluctuations in these rates can impact investment decisions and financial planning, making them critical references for strategic decision-making.

The State Bank of Pakistan’s regular release of foreign exchange rates enhances transparency and serves as a vital resource for those involved in international trade. These rates will continue to be instrumental in financial decision-making and strategic planning as economic conditions evolve.