State Bank issues foreign exchange rates on December 26, 2022

State Bank issues foreign exchange rates on December 26, 2022

KARACHI: On Monday, the State Bank of Pakistan (SBP) released the foreign exchange rates for December 26, 2022.

These rates, calculated based on the weighted average rates from commercial banks, provide insight into the current valuation of the Pakistani Rupee (PKR) against various foreign currencies.

Here’s a detailed breakdown of the buying and selling rates for key foreign currencies in PKR on December 26, 2022:

• UAE Dirham (AED):

• Buying: 61.4854 PKR

• Selling: 61.5951 PKR

• Australian Dollar (AUD):

• Buying: 151.6507 PKR

• Selling: 151.9313 PKR

• Canadian Dollar (CAD):

• Buying: 165.9713 PKR

• Selling: 166.2678 PKR

• Swiss Franc (CHF):

• Buying: 241.8573 PKR

• Selling: 242.2799 PKR

• Chinese Yuan (CNY):

• Buying: 32.3851 PKR

• Selling: 32.4384 PKR

• Euro (EUR):

• Buying: 239.9403 PKR

• Selling: 240.3785 PKR

• UK Pound (GBP):

• Buying: 272.2939 PKR

• Selling: 272.7932 PKR

• Japanese Yen (JPY):

• Buying: 1.7013 PKR

• Selling: 1.7044 PKR

• Saudi Riyal (SAR):

• Buying: 60.0104 PKR

• Selling: 60.1200 PKR

• US Dollar (USD):

• Buying: 225.6675 PKR

• Selling: 226.0836 PKR

These exchange rates are instrumental for businesses and individuals engaged in international trade, providing a benchmark to gauge the value of the PKR against major global currencies. The rates are computed from the weighted average rates of commercial banks, offering an accurate reflection of the ongoing market dynamics.

The USD to PKR exchange rate, a pivotal metric for economic activities, stands at 225.6675 PKR for buying and 226.0836 PKR for selling. This exchange rate is closely monitored by various stakeholders, including businesses, investors, and policymakers, as it holds significant implications for trade balances, inflation, and overall economic stability.

The Euro (EUR) is listed at 239.9403 PKR for buying and 240.3785 PKR for selling, while the UK Pound (GBP) is valued at 272.2939 PKR (buying) and 272.7932 PKR (selling). These rates offer valuable insights into the relative strength or weakness of the Pakistani Rupee against major European currencies.

For businesses involved in trade with the Middle East, the buying and selling rates for the UAE Dirham (AED) and the Saudi Riyal (SAR) are crucial indicators. The AED is quoted at 61.4854 PKR (buying) and 61.5951 PKR (selling), while the SAR is at 60.0104 PKR (buying) and 60.1200 PKR (selling).

It is imperative for businesses and individuals participating in international transactions to stay informed about these exchange rates, as they directly influence the cost of imports, the value of exports, and overall economic stability. Fluctuations in these rates can also impact investment decisions and financial planning.

The regular release of these exchange rates by the State Bank of Pakistan enhances transparency and provides a valuable resource for those navigating the intricacies of the global economy. As economic conditions evolve, these rates will continue to be a critical reference point for financial decisions and strategic planning.