State Bank issues foreign exchange rates on November 03, 2022

State Bank issues foreign exchange rates on November 03, 2022

KARACHI, November 03, 2022 – The State Bank of Pakistan (SBP) has unveiled the foreign exchange rates for November 03, 2022.

These rates, based on the weighted average rates of commercial banks, provide insight into the buying and selling prices of various foreign currencies against the Pakistani Rupee (PKR).

As of November 03, 2022, here are the buying and selling rates for different currencies:

• UAE Dirham (AED):

• Buying: PKR 60.4225

• Selling: PKR 60.5322

• Australian Dollar (AUD):

• Buying: PKR 140.8050

• Selling: PKR 141.0612

• Canadian Dollar (CAD):

• Buying: PKR 161.8198

• Selling: PKR 162.1123

• Swiss Franc (CHF):

• Buying: PKR 220.8438

• Selling: PKR 221.2548

• Chinese Yuan (CNY):

• Buying: PKR 30.3627

• Selling: PKR 30.4154

• Euro (EUR):

• Buying: PKR 217.7405

• Selling: PKR 218.1518

• UK Pound (GBP):

• Buying: PKR 252.6027

• Selling: PKR 253.0721

• Japanese Yen (JPY):

• Buying: PKR 1.5030

• Selling: PKR 1.5057

• Saudi Riyal (SAR):

• Buying: PKR 59.0195

• Selling: PKR 59.1298

• US Dollar (USD):

• Buying: PKR 221.7814

• Selling: PKR 222.1975

The foreign exchange market remains a critical component of the global economy, influencing trade, investment, and economic stability. The State Bank of Pakistan’s regular release of exchange rates plays a crucial role in guiding businesses, investors, and the public in making informed decisions related to international transactions.

The strength of the Pakistani Rupee against major currencies serves as a key indicator of the country’s economic health and attractiveness to foreign investors. Monitoring these exchange rates is essential for assessing economic dynamics and potential impacts on various sectors, including import and export businesses.

The exchange rate of the US Dollar is of particular interest, given its status as a leading global currency. Its buying and selling rates against the PKR can significantly influence Pakistan’s trade balance, inflation, and overall economic conditions. The State Bank’s ongoing efforts to monitor and adjust exchange rates are aimed at ensuring economic stability and competitiveness in the global market.

Other major currencies, including the Euro, Pound Sterling, and Japanese Yen, also play significant roles in international trade. Their exchange rates against the PKR offer insights into Pakistan’s economic relations with the European Union, the United Kingdom, and Japan.

It is important to note that exchange rates are subject to fluctuations driven by market dynamics, economic indicators, and geopolitical events. Businesses and individuals engaged in international transactions are advised to stay informed about these developments to make well-informed decisions.

As the central banking authority, the State Bank of Pakistan continues to contribute to financial system stability through the timely release of foreign exchange rates. Market participants are encouraged to stay vigilant and adapt their strategies as needed in response to changing global economic conditions.