KARACHI: On Tuesday, the State Bank of Pakistan (SBP) unveiled the foreign exchange rates for January 03, 2023.
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 January 03, 2023:
• UAE Dirham (AED):
• Buying: 61.7823 PKR
• Selling: 61.8919 PKR
• Australian Dollar (AUD):
• Buying: 154.3321 PKR
• Selling: 154.6039 PKR
• Canadian Dollar (CAD):
• Buying: 167.3058 PKR
• Selling: 167.6010 PKR
• Swiss Franc (CHF):
• Buying: 245.2476 PKR
• Selling: 245.6861 PKR
• Chinese Yuan (CNY):
• Buying: 32.9541 PKR
• Selling: 33.0101 PKR
• Euro (EUR):
• Buying: 241.7147 PKR
• Selling: 242.1576 PKR
• UK Pound (GBP):
• Buying: 273.6159 PKR
• Selling: 274.1152 PKR
• Japanese Yen (JPY):
• Buying: 1.7471 PKR
• Selling: 1.7502 PKR
• Saudi Riyal (SAR):
• Buying: 60.3316 PKR
• Selling: 60.4385 PKR
• US Dollar (USD):
• Buying: 226.7598 PKR
• Selling: 227.1759 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 226.7598 PKR for buying and 227.1759 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 241.7147 PKR for buying and 242.1576 PKR for selling, while the UK Pound (GBP) is valued at 273.6159 PKR (buying) and 274.1152 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 61.7823 PKR (buying) and 61.8919 PKR (selling), while the SAR is at 60.3316 PKR (buying) and 60.4385 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.
