KARACHI: On Wednesday, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for January 04, 2023.
These rates, established on the basis of weighted average rates from commercial banks, provide 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 January 04, 2023:
• UAE Dirham (AED):
• Buying: 61.7824 PKR
• Selling: 61.8920 PKR
• Australian Dollar (AUD):
• Buying: 154.2815 PKR
• Selling: 154.5537 PKR
• Canadian Dollar (CAD):
• Buying: 166.2256 PKR
• Selling: 166.5220 PKR
• Swiss Franc (CHF):
• Buying: 243.2170 PKR
• Selling: 243.6531 PKR
• Chinese Yuan (CNY):
• Buying: 32.9323 PKR
• Selling: 32.9883 PKR
• Euro (EUR):
• Buying: 239.7920 PKR
• Selling: 240.2324 PKR
• UK Pound (GBP):
• Buying: 271.9098 PKR
• Selling: 272.4009 PKR
• Japanese Yen (JPY):
• Buying: 1.7353 PKR
• Selling: 1.7383 PKR
• Saudi Riyal (SAR):
• Buying: 60.3248 PKR
• Selling: 60.4318 PKR
• US Dollar (USD):
• Buying: 226.7641 PKR
• Selling: 227.1802 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 226.7641 PKR for buying and 227.1802 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 239.7920 PKR for buying and 240.2324 PKR for selling, while the UK Pound (GBP) is valued at 271.9098 PKR (buying) and 272.4009 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 61.7824 PKR (buying) and 61.8920 PKR (selling), while the SAR is at 60.3248 PKR (buying) and 60.4318 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.
