KARACHI: On Tuesday, the State Bank of Pakistan (SBP) released the foreign exchange rates for January 10, 2023.
These rates, determined on the basis of weighted average rates from commercial banks, provide valuable insights into the current valuation of the Pakistani Rupee (PKR) against various foreign currencies.
Here is a detailed breakdown of the buying and selling rates for key foreign currencies in PKR on January 10, 2023:
• UAE Dirham (AED):
• Buying: 62.0603 PKR
• Selling: 62.1700 PKR
• Australian Dollar (AUD):
• Buying: 157.2222 PKR
• Selling: 157.4988 PKR
• Canadian Dollar (CAD):
• Buying: 170.0977 PKR
• Selling: 170.3971 PKR
• Swiss Franc (CHF):
• Buying: 247.1430 PKR
• Selling: 247.5711 PKR
• Chinese Yuan (CNY):
• Buying: 33.6193 PKR
• Selling: 33.6729 PKR
• Euro (EUR):
• Buying: 244.4648 PKR
• Selling: 244.9113 PKR
• UK Pound (GBP):
• Buying: 276.9619 PKR
• Selling: 277.4654 PKR
• Japanese Yen (JPY):
• Buying: 1.7255 PKR
• Selling: 1.7286 PKR
• Saudi Riyal (SAR):
• Buying: 60.6574 PKR
• Selling: 60.7646 PKR
• US Dollar (USD):
• Buying: 227.7856 PKR
• Selling: 228.2017 PKR
These exchange rates are essential for businesses and individuals involved in international trade, serving as a reference point for understanding 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 pivotal metric for economic activities, stands at 227.7856 PKR for buying and 228.2017 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 244.4648 PKR for buying and 244.9113 PKR for selling, while the UK Pound (GBP) is valued at 276.9619 PKR (buying) and 277.4654 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 62.0603 PKR (buying) and 62.1700 PKR (selling), while the SAR is at 60.6574 PKR (buying) and 60.7646 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.