Karachi, November 10, 2022 – The State Bank of Pakistan (SBP) has released the foreign exchange rates for today, offering valuable information about the buying and selling prices of various foreign currencies against the Pakistan Rupee (PKR).
These rates, computed on the basis of the weighted average rates of commercial banks, play a crucial role in shaping international trade, investment, and financial transactions.
As of November 10, 2022, the exchange rates for different currencies are as follows:
• UAE Dirham (AED): Buying – 60.2767 PKR, Selling – 60.3858 PKR
• Australian Dollar (AUD): Buying – 141.9893 PKR, Selling – 142.2475 PKR
• Canadian Dollar (CAD): Buying – 163.4804 PKR, Selling – 163.7764 PKR
• Swiss Franc (CHF): Buying – 224.9988 PKR, Selling – 225.4105 PKR
• Chinese Yuan (CNY): Buying – 30.5247 PKR, Selling – 30.5762 PKR
• Euro (EUR): Buying – 221.9494 PKR, Selling – 222.3675 PKR
• UK Pound (GBP): Buying – 252.1818 PKR, Selling – 252.6552 PKR
• Japanese Yen (JPY): Buying – 1.5134 PKR, Selling – 1.5162 PKR
• Saudi Riyal (SAR): Buying – 58.8455 PKR, Selling – 58.9518 PKR
• US Dollar (USD): Buying – 221.2431 PKR, Selling – 221.6592 PKR
The US Dollar maintains its dominance in the foreign exchange market, with a buying rate of 221.2431 PKR and a selling rate of 221.6592 PKR. This highlights the continued demand for the US Dollar in various economic transactions and trade activities.
The Euro, another major currency, stands at 221.9494 PKR (buying) and 222.3675 PKR (selling), while the UK Pound has a buying rate of 252.1818 PKR and a selling rate of 252.6552 PKR.
Exchange rate fluctuations have substantial implications for the economy, influencing the cost of imports, exports, and overall economic stability. Businesses, investors, and individuals closely monitor these rates to make informed decisions and manage currency-related risks.
The State Bank of Pakistan, as the central bank, plays a crucial role in regulating and stabilizing the foreign exchange market. The timely release of exchange rates ensures transparency and provides valuable information for economic participants.
Market analysts suggest that various factors such as global economic conditions, geopolitical events, and market trends can influence exchange rate movements. Therefore, stakeholders are advised to stay informed and adapt their strategies accordingly.
In conclusion, the foreign exchange rates announced by the State Bank of Pakistan on November 10, 2022, offer valuable insights into the dynamics of the foreign exchange market. These rates serve as a reference point for businesses and individuals engaged in international transactions and contribute to the overall economic landscape of Pakistan.
