KARACHI: On Friday, the State Bank of Pakistan (SBP) released the foreign exchange rates for January 06, 2023.
These rates, established on the basis of weighted average rates from commercial banks, offer valuable insights into the current valuation of the Pakistani Rupee (PKR) against various foreign currencies.
Here’s a detailed overview of the buying and selling rates for key foreign currencies in PKR on January 06, 2023:
• UAE Dirham (AED):
• Buying: 61.8441 PKR
• Selling: 61.9538 PKR
• Australian Dollar (AUD):
• Buying: 153.5094 PKR
• Selling: 153.7819 PKR
• Canadian Dollar (CAD):
• Buying: 167.2470 PKR
• Selling: 167.5364 PKR
• Swiss Franc (CHF):
• Buying: 242.3010 PKR
• Selling: 242.7342 PKR
• Chinese Yuan (CNY):
• Buying: 33.1294 PKR
• Selling: 33.1847 PKR
• Euro (EUR):
• Buying: 238.8328 PKR
• Selling: 239.2383 PKR
• UK Pound (GBP):
• Buying: 270.4159 PKR
• Selling: 270.9126 PKR
• Japanese Yen (JPY):
• Buying: 1.6933 PKR
• Selling: 1.6963 PKR
• Saudi Riyal (SAR):
• Buying: 60.4005 PKR
• Selling: 60.5088 PKR
• US Dollar (USD):
• Buying: 226.9970 PKR
• Selling: 227.4131 PKR
These exchange rates are essential for businesses and individuals involved in international trade, providing 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, reflecting the ongoing market dynamics.
The USD to PKR exchange rate, a key metric for economic activities, stands at 226.9970 PKR for buying and 227.4131 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 238.8328 PKR for buying and 239.2383 PKR for selling, while the UK Pound (GBP) is valued at 270.4159 PKR (buying) and 270.9126 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 61.8441 PKR (buying) and 61.9538 PKR (selling), while the SAR is at 60.4005 PKR (buying) and 60.5088 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.
