Karachi, November 11, 2022 – The State Bank of Pakistan (SBP) has released the foreign exchange rates for today, providing insight into the buying and selling prices of various foreign currencies against the Pakistan Rupee (PKR).
These rates, determined on the basis of the weighted average rates of commercial banks, play a vital role in shaping international trade, investment, and financial transactions.
As of November 11, 2022, the exchange rates for different currencies are as follows:
• UAE Dirham (AED): Buying – 60.3225 PKR, Selling – 60.4315 PKR
• Australian Dollar (AUD): Buying – 146.8415 PKR, Selling – 147.1078 PKR
• Canadian Dollar (CAD): Buying – 166.2463 PKR, Selling – 166.5410 PKR
• Swiss Franc (CHF): Buying – 229.4865 PKR, Selling – 229.8950 PKR
• Chinese Yuan (CNY): Buying – 31.1288 PKR, Selling – 31.1816 PKR
• Euro (EUR): Buying – 226.1030 PKR, Selling – 226.5207 PKR
• UK Pound (GBP): Buying – 259.0064 PKR, Selling – 259.4842 PKR
• Japanese Yen (JPY): Buying – 1.5634 PKR, Selling – 1.5663 PKR
• Saudi Riyal (SAR): Buying – 58.9033 PKR, Selling – 59.0102 PKR
• US Dollar (USD): Buying – 221.4137 PKR, Selling – 221.8298 PKR
The US Dollar maintains its significance in the foreign exchange market, with a buying rate of 221.4137 PKR and a selling rate of 221.8298 PKR. This highlights the sustained demand for the US Dollar in various economic transactions and trade activities.
The Euro, another major currency, stands at 226.1030 PKR (buying) and 226.5207 PKR (selling), while the UK Pound has a buying rate of 259.0064 PKR and a selling rate of 259.4842 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 11, 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.
