State Bank issues foreign exchange rates on December 13, 2022

State Bank issues foreign exchange rates on December 13, 2022

KARACHI: The State Bank of Pakistan (SBP) has unveiled the foreign exchange rates for December 13, 2022, providing valuable insights into the currency dynamics and economic conditions in the country.

These rates, determined based on the weighted average rates reported by commercial banks, serve as a crucial indicator for businesses, investors, and policymakers, influencing financial decisions and economic strategies.

Here is a detailed breakdown of the buying and selling rates for major foreign currencies in PKR on December 13, 2022:

• UAE Dirham (AED):

• Buying: 61.1709 PKR

• Selling: 61.2800 PKR

• Australian Dollar (AUD):

• Buying: 151.8701 PKR

• Selling: 152.1577 PKR

• Canadian Dollar (CAD):

• Buying: 164.8391 PKR

• Selling: 165.1330 PKR

• Swiss Franc (CHF):

• Buying: 240.0750 PKR

• Selling: 240.5098 PKR

• Chinese Yuan (CNY):

• Buying: 32.1944 PKR

• Selling: 32.2491 PKR

• Euro (EUR):

• Buying: 236.9180 PKR

• Selling: 237.3575 PKR

• UK Pound (GBP):

• Buying: 275.7960 PKR

• Selling: 276.3033 PKR

• Japanese Yen (JPY):

• Buying: 1.6314 PKR

• Selling: 1.6342 PKR

• Saudi Riyal (SAR):

• Buying: 59.7141 PKR

• Selling: 59.8217 PKR

• US Dollar (USD):

• Buying: 224.5241 PKR

• Selling: 224.9402 PKR

The rates for the UAE Dirham (AED) and Saudi Riyal (SAR) are crucial for businesses involved in trade with the Middle East, standing at 61.1709 PKR and 61.2800 PKR for AED and 59.7141 PKR and 59.8217 PKR for SAR, respectively.

The USD to PKR exchange rate, a key indicator for economic activities, is at 224.5241 PKR for buying and 224.9402 PKR for selling. This rate plays a crucial role in determining trade balances, inflation, and overall economic stability. As a closely monitored metric, it influences various sectors and financial markets.

The Euro (EUR) is quoted at 236.9180 PKR for buying and 237.3575 PKR for selling, while the UK Pound (GBP) stands at 275.7960 PKR for buying and 276.3033 PKR for selling. These rates provide 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 act as indispensable 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 a critical reference for strategic decision-making.

The State Bank of Pakistan’s regular release of foreign exchange rates enhances transparency and serves as a valuable 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.