State Bank issues foreign exchange rates on November 15, 2022

State Bank issues foreign exchange rates on November 15, 2022

KARACHI, November 15, 2022 – The State Bank of Pakistan (SBP) has released the foreign exchange rates for November 15, 2022.

These rates are based on the weighted average rates of commercial banks, providing a snapshot of the buying and selling prices of various foreign currencies against the Pakistan Rupee (PKR).

Here are the buying and selling rates for select foreign currencies in PKR:

• UAE Dirham (AED):

• Buying: 60.4147

• Selling: 60.5227

• Australian Dollar (AUD):

• Buying: 149.0281

• Selling: 149.2992

• Canadian Dollar (CAD):

• Buying: 166.9105

• Selling: 167.2058

• Swiss Franc (CHF):

• Buying: 235.0536

• Selling: 235.4713

• Chinese Yuan (CNY):

• Buying: 31.5045

• Selling: 31.5561

• Euro (EUR):

• Buying: 229.4341

• Selling: 229.8655

• UK Pound (GBP):

• Buying: 261.4697

• Selling: 261.9548

• Japanese Yen (JPY):

• Buying: 1.5821

• Selling: 1.5849

• Saudi Riyal (SAR):

• Buying: 59.0025

• Selling: 59.1094

• US Dollar (USD):

• Buying: 221.7480

• Selling: 222.1641

These rates represent the exchange values of the specified foreign currencies in terms of Pakistani Rupees. The buying rate indicates the amount of PKR required to purchase one unit of the foreign currency, while the selling rate represents the amount of PKR obtained by selling one unit of the foreign currency.

Foreign exchange rates play a pivotal role in international trade, investment, and financial transactions. They are influenced by various factors, including economic indicators, geopolitical events, and market sentiment.

It’s important to note that exchange rates can fluctuate based on market conditions, and the rates provided by the SBP are indicative of prevailing conditions at the time of issuance. Users are advised to verify these rates with their respective financial institutions before engaging in significant financial transactions.

The SBP’s release of foreign exchange rates reflects its commitment to transparency and providing timely information to market participants. Businesses, investors, and individuals often refer to these rates when making decisions related to international trade, travel, and financial investments.

As the global economic landscape evolves, foreign exchange rates will continue to be a key metric for assessing the economic health of a country and navigating the complexities of international financial markets.