KARACHI: On Wednesday, the State Bank of Pakistan (SBP) published the foreign exchange rates for December 28, 2022.
These rates, computed on the basis of weighted average rates from commercial banks, provide an in-depth overview of 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 28, 2022:
• UAE Dirham (AED):
• Buying: 61.6098 PKR
• Selling: 61.7131 PKR
• Australian Dollar (AUD):
• Buying: 152.7822 PKR
• Selling: 153.0523 PKR
• Canadian Dollar (CAD):
• Buying: 167.1295 PKR
• Selling: 167.4271 PKR
• Swiss Franc (CHF):
• Buying: 243.2658 PKR
• Selling: 243.7022 PKR
• Chinese Yuan (CNY):
• Buying: 32.4635 PKR
• Selling: 32.5150 PKR
• Euro (EUR):
• Buying: 240.8074 PKR
• Selling: 241.2499 PKR
• UK Pound (GBP):
• Buying: 272.0514 PKR
• Selling: 272.5443 PKR
• Japanese Yen (JPY):
• Buying: 1.6877 PKR
• Selling: 1.6907 PKR
• Saudi Riyal (SAR):
• Buying: 60.1534 PKR
• Selling: 60.2624 PKR
• US Dollar (USD):
• Buying: 226.1252 PKR
• Selling: 226.5413 PKR
These exchange rates are vital for businesses and individuals involved in international trade, serving as a reference point to understand the value of the PKR against major global currencies. The rates are derived from the weighted average rates of commercial banks, providing an accurate reflection of the ongoing market dynamics.
The USD to PKR exchange rate, a key metric for economic activities, stands at 226.1252 PKR for buying and 226.5413 PKR for selling. This exchange rate is closely monitored by various stakeholders, including businesses, investors, and policymakers, as it has significant implications for trade balances, inflation, and overall economic stability.
The Euro (EUR) is trading at 240.8074 PKR for buying and 241.2499 PKR for selling, while the UK Pound (GBP) is valued at 272.0514 PKR (buying) and 272.5443 PKR (selling). These rates provide valuable insights into the relative strength or weakness of the Pakistani Rupee against major European currencies.
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 crucial indicators. The AED is quoted at 61.6098 PKR (buying) and 61.7131 PKR (selling), while the SAR is at 60.1534 PKR (buying) and 60.2624 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 State Bank of Pakistan’s regular release of these exchange rates 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.
