State Bank issues foreign exchange rates on December 30, 2022

State Bank issues foreign exchange rates on December 30, 2022

KARACHI: On Friday, the State Bank of Pakistan (SBP) released the foreign exchange rates for December 30, 2022.

These rates, established on the basis of weighted average rates from commercial banks, offer a comprehensive 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 30, 2022:

• UAE Dirham (AED):

• Buying: 61.6514 PKR

• Selling: 61.7611 PKR

• Australian Dollar (AUD):

• Buying: 153.3372 PKR

• Selling: 153.6171 PKR

• Canadian Dollar (CAD):

• Buying: 166.9912 PKR

• Selling: 167.2816 PKR

• Swiss Franc (CHF):

• Buying: 244.9049 PKR

• Selling: 245.3494 PKR

• Chinese Yuan (CNY):

• Buying: 32.5519 PKR

• Selling: 32.6034 PKR

• Euro (EUR):

• Buying: 240.9416 PKR

• Selling: 241.3842 PKR

• UK Pound (GBP):

• Buying: 272.5130 PKR

• Selling: 273.0263 PKR

• Japanese Yen (JPY):

• Buying: 1.7073 PKR

• Selling: 1.7103 PKR

• Saudi Riyal (SAR):

• Buying: 60.1851 PKR

• Selling: 60.2954 PKR

• US Dollar (USD):

• Buying: 226.2651 PKR

• Selling: 226.6811 PKR

These exchange rates play a vital role 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 226.2651 PKR for buying and 226.6811 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 240.9416 PKR for buying and 241.3842 PKR for selling, while the UK Pound (GBP) is valued at 272.5130 PKR (buying) and 273.0263 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 61.6514 PKR (buying) and 61.7611 PKR (selling), while the SAR is at 60.1851 PKR (buying) and 60.2954 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.