KARACHI: On Monday, the State Bank of Pakistan (SBP) published the foreign exchange rates for January 09, 2023.
These rates, determined based on the weighted average rates of commercial banks, offer a comprehensive overview of the current value 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 09, 2023:
• UAE Dirham (AED):
• Buying: 61.9322 PKR
• Selling: 62.0418 PKR
• Australian Dollar (AUD):
• Buying: 157.6624 PKR
• Selling: 157.9375 PKR
• Canadian Dollar (CAD):
• Buying: 169.6604 PKR
• Selling: 169.9603 PKR
• Swiss Franc (CHF):
• Buying: 245.7639 PKR
• Selling: 246.2036 PKR
• Chinese Yuan (CNY):
• Buying: 33.5697 PKR
• Selling: 33.6238 PKR
• Euro (EUR):
• Buying: 242.8545 PKR
• Selling: 243.2994 PKR
• UK Pound (GBP):
• Buying: 276.1921 PKR
• Selling: 276.6939 PKR
• Japanese Yen (JPY):
• Buying: 1.7252 PKR
• Selling: 1.7282 PKR
• Saudi Riyal (SAR):
• Buying: 60.4900 PKR
• Selling: 60.5970 PKR
• US Dollar (USD):
• Buying: 227.3156 PKR
• Selling: 227.7317 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, providing an accurate reflection of the ongoing market dynamics.
The USD to PKR exchange rate, a key metric for economic activities, stands at 227.3156 PKR for buying and 227.7317 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 242.8545 PKR for buying and 243.2994 PKR for selling, while the UK Pound (GBP) is valued at 276.1921 PKR (buying) and 276.6939 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 61.9322 PKR (buying) and 62.0418 PKR (selling), while the SAR is at 60.4900 PKR (buying) and 60.5970 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.
