Karachi, November 14, 2022 – The State Bank of Pakistan (SBP) has published the foreign exchange rates for today, shedding light on the buying and selling prices of various foreign currencies against the Pakistan Rupee (PKR).
These rates, based on the weighted average rates of commercial banks, play a crucial role in shaping international trade, investment, and financial transactions.
As of November 14, 2022, the exchange rates for different currencies are as follows:
• UAE Dirham (AED): Buying – 60.3519 PKR, Selling – 60.4610 PKR
• Australian Dollar (AUD): Buying – 148.0507 PKR, Selling – 148.3149 PKR
• Canadian Dollar (CAD): Buying – 166.9994 PKR, Selling – 167.2951 PKR
• Swiss Franc (CHF): Buying – 233.9569 PKR, Selling – 234.3902 PKR
• Chinese Yuan (CNY): Buying – 31.4626 PKR, Selling – 31.5147 PKR
• Euro (EUR): Buying – 228.5980 PKR, Selling – 229.0210 PKR
• UK Pound (GBP): Buying – 260.5291 PKR, Selling – 261.0209 PKR
• Japanese Yen (JPY): Buying – 1.5901 PKR, Selling – 1.5931 PKR
• Saudi Riyal (SAR): Buying – 58.9328 PKR, Selling – 59.0391 PKR
• US Dollar (USD): Buying – 221.5174 PKR, Selling – 221.9335 PKR
The US Dollar remains a dominant force in the foreign exchange market, with a buying rate of 221.5174 PKR and a selling rate of 221.9335 PKR. This underscores the persistent demand for the US Dollar in various economic transactions and trade activities.
The Euro, another major currency, stands at 228.5980 PKR (buying) and 229.0210 PKR (selling), while the UK Pound has a buying rate of 260.5291 PKR and a selling rate of 261.0209 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 14, 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.
