KARACHI: On Thursday, the State Bank of Pakistan (SBP) issued the foreign exchange rates for January 05, 2023.
These rates, determined 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 05, 2023:
• UAE Dirham (AED):
• Buying: 61.8312 PKR
• Selling: 61.9408 PKR
• Australian Dollar (AUD):
• Buying: 154.8094 PKR
• Selling: 155.0797 PKR
• Canadian Dollar (CAD):
• Buying: 168.0154 PKR
• Selling: 168.3127 PKR
• Swiss Franc (CHF):
• Buying: 244.0438 PKR
• Selling: 244.4802 PKR
• Chinese Yuan (CNY):
• Buying: 33.0309 PKR
• Selling: 33.0863 PKR
• Euro (EUR):
• Buying: 240.8093 PKR
• Selling: 241.2392 PKR
• UK Pound (GBP):
• Buying: 273.0829 PKR
• Selling: 273.5812 PKR
• Japanese Yen (JPY):
• Buying: 1.7143 PKR
• Selling: 1.7173 PKR
• Saudi Riyal (SAR):
• Buying: 60.3768 PKR
• Selling: 60.4844 PKR
• US Dollar (USD):
• Buying: 226.9575 PKR
• Selling: 227.3736 PKR
These exchange rates play a crucial role for businesses and individuals involved in international trade, acting 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, offering a reflection of the ongoing market dynamics.
The USD to PKR exchange rate, a key metric for economic activities, stands at 226.9575 PKR for buying and 227.3736 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 240.8093 PKR for buying and 241.2392 PKR for selling, while the UK Pound (GBP) is valued at 273.0829 PKR (buying) and 273.5812 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 61.8312 PKR (buying) and 61.9408 PKR (selling), while the SAR is at 60.3768 PKR (buying) and 60.4844 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.
