KARACHI, November 07, 2022 – The State Bank of Pakistan (SBP) has released the foreign exchange rates for November 07, 2022.
These rates, based on the weighted average rates of commercial banks, indicate the buying and selling prices of various foreign currencies against the Pakistani Rupee (PKR).
Here is a breakdown of the buying and selling rates for different currencies as of November 07, 2022:
• UAE Dirham (AED):
• Buying: PKR 60.3448
• Selling: PKR 60.4544
• Australian Dollar (AUD):
• Buying: PKR 142.3456
• Selling: PKR 142.6003
• Canadian Dollar (CAD):
• Buying: PKR 163.7304
• Selling: PKR 164.0224
• Swiss Franc (CHF):
• Buying: PKR 222.4319
• Selling: PKR 222.8401
• Chinese Yuan (CNY):
• Buying: PKR 30.6750
• Selling: PKR 30.7260
• Euro (EUR):
• Buying: PKR 220.2604
• Selling: PKR 220.6753
• UK Pound (GBP):
• Buying: PKR 250.8261
• Selling: PKR 251.2966
• Japanese Yen (JPY):
• Buying: PKR 1.5044
• Selling: PKR 1.5071
• Saudi Riyal (SAR):
• Buying: PKR 58.9454
• Selling: PKR 59.0556
• US Dollar (USD):
• Buying: PKR 221.4981
• Selling: PKR 221.9142
The foreign exchange rates play a crucial role in the global economy, impacting international trade, investment, and financial transactions. These rates are determined by various factors, including market demand and supply, economic indicators, and geopolitical events.
The strength of the Pakistani Rupee against these major currencies reflects the country’s economic stability and its ability to attract foreign investment. Investors and businesses often monitor these exchange rates closely to make informed decisions regarding cross-border transactions.
The US Dollar, being one of the most widely traded currencies globally, holds a significant position in the exchange rate matrix. Its buying and selling rates against the PKR are closely watched, as they can influence import and export costs, inflation, and overall economic conditions in Pakistan.
The Euro, Pound Sterling, and Japanese Yen also play crucial roles in international trade, and their exchange rates against the PKR provide insights into the economic relationships between Pakistan and the European Union, the United Kingdom, and Japan.
As the global economy continues to evolve, the State Bank of Pakistan remains vigilant in monitoring and adjusting exchange rates to ensure the stability of the country’s financial system. The timely release of foreign exchange rates enables businesses, investors, and the general public to make informed decisions and navigate the dynamic landscape of international finance.
It is important to note that exchange rates are subject to fluctuations based on market conditions, economic indicators, and geopolitical developments. Therefore, individuals and entities engaged in international transactions are advised to stay informed and adapt their strategies accordingly. The State Bank of Pakistan, as the central banking authority, plays a pivotal role in maintaining the integrity and resilience of the country’s financial system.
