KARACHI: On Thursday, the State Bank of Pakistan (SBP) unveiled the foreign exchange rates for December 29, 2022.
These rates, established on the basis of weighted average rates from commercial banks, provide a comprehensive snapshot 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 29, 2022:
• UAE Dirham (AED):
• Buying: 61.6521 PKR
• Selling: 61.7618 PKR
• Australian Dollar (AUD):
• Buying: 152.4629 PKR
• Selling: 152.7288 PKR
• Canadian Dollar (CAD):
• Buying: 166.4512 PKR
• Selling: 166.7477 PKR
• Swiss Franc (CHF):
• Buying: 243.8305 PKR
• Selling: 244.2690 PKR
• Chinese Yuan (CNY):
• Buying: 32.4911 PKR
• Selling: 32.5432 PKR
• Euro (EUR):
• Buying: 240.2854 PKR
• Selling: 240.7271 PKR
• UK Pound (GBP):
• Buying: 272.1446 PKR
• Selling: 272.6408 PKR
• Japanese Yen (JPY):
• Buying: 1.6915 PKR
• Selling: 1.6945 PKR
• Saudi Riyal (SAR):
• Buying: 60.1919 PKR
• Selling: 60.3023 PKR
• US Dollar (USD):
• Buying: 226.2718 PKR
• Selling: 226.6879 PKR
These exchange rates are crucial 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 226.2718 PKR for buying and 226.6879 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 240.2854 PKR for buying and 240.7271 PKR for selling, while the UK Pound (GBP) is valued at 272.1446 PKR (buying) and 272.6408 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 61.6521 PKR (buying) and 61.7618 PKR (selling), while the SAR is at 60.1919 PKR (buying) and 60.3023 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.
