KARACHI: On Friday, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for December 16, 2022.
These rates, formulated based on the weighted average rates reported by commercial banks, play a crucial role in determining the value of the Pakistani Rupee (PKR) against various global currencies.
Here’s a comprehensive breakdown of the buying and selling rates for major foreign currencies in PKR on December 16, 2022:
• UAE Dirham (AED):
• Buying: 61.2368 PKR
• Selling: 61.3464 PKR
• Australian Dollar (AUD):
• Buying: 150.8167 PKR
• Selling: 151.0817 PKR
• Canadian Dollar (CAD):
• Buying: 164.9365 PKR
• Selling: 165.2303 PKR
• Swiss Franc (CHF):
• Buying: 242.5245 PKR
• Selling: 242.9670 PKR
• Chinese Yuan (CNY):
• Buying: 32.2660 PKR
• Selling: 32.3210 PKR
• Euro (EUR):
• Buying: 239.4858 PKR
• Selling: 239.9245 PKR
• UK Pound (GBP):
• Buying: 274.3695 PKR
• Selling: 274.8659 PKR
• Japanese Yen (JPY):
• Buying: 1.6374 PKR
• Selling: 1.6403 PKR
• Saudi Riyal (SAR):
• Buying: 59.7791 PKR
• Selling: 59.8807 PKR
• US Dollar (USD):
• Buying: 224.7530 PKR
• Selling: 225.1691 PKR
These exchange rates offer a snapshot of the current status of the PKR against major global currencies, providing valuable information for businesses, investors, and individuals involved in international transactions.
For businesses engaged in trade with the Middle East, the buying and selling rates for the UAE Dirham (AED) and the Saudi Riyal (SAR) are of particular significance. The AED is quoted at 61.2368 PKR (buying) and 61.3464 PKR (selling), while the SAR is at 59.7791 PKR (buying) and 59.8807 PKR (selling).
The USD to PKR exchange rate, a key indicator for economic activities, stands at 224.7530 PKR for buying and 225.1691 PKR for selling. This rate has implications for trade balances, inflation, and overall economic stability, making it a closely monitored metric by businesses and policymakers alike.
The Euro (EUR) is listed at 239.4858 PKR for buying and 239.9245 PKR for selling, while the UK Pound (GBP) is valued at 274.3695 PKR (buying) and 274.8659 PKR (selling). These rates provide insights into the relative strength or weakness of the Pakistani Rupee against major European currencies.
As businesses navigate the complexities of the global economy, these exchange rates serve as essential benchmarks for evaluating the cost of imports, the value of exports, and overall economic stability. Fluctuations in these rates can influence investment decisions and financial planning.
The State Bank of Pakistan’s regular release of these exchange rates enhances transparency and serves as a valuable resource for those navigating the intricacies of international trade. These rates will continue to be a critical reference point for financial decisions and strategic planning as economic conditions evolve.
