Karachi, November 18, 2022 – The State Bank of Pakistan (SBP) has released the foreign exchange rates for today, providing a comprehensive overview of 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 crucial role in shaping international trade, investment, and financial transactions.
As of November 18, 2022, the exchange rates for different currencies are as follows:
• UAE Dirham (AED): Buying – 60.7606 PKR, Selling – 60.8689 PKR
• Australian Dollar (AUD): Buying – 149.5478 PKR, Selling – 149.8164 PKR
• Canadian Dollar (CAD): Buying – 167.4267 PKR, Selling – 167.7278 PKR
• Swiss Franc (CHF): Buying – 234.2464 PKR, Selling – 234.6778 PKR
• Chinese Yuan (CNY): Buying – 31.3116 PKR, Selling – 31.3626 PKR
• Euro (EUR): Buying – 231.3647 PKR, Selling – 231.7956 PKR
• UK Pound (GBP): Buying – 265.4055 PKR, Selling – 265.8977 PKR
• Japanese Yen (JPY): Buying – 1.5948 PKR, Selling – 1.5977 PKR
• Saudi Riyal (SAR): Buying – 59.3460 PKR, Selling – 59.4530 PKR
• US Dollar (USD): Buying – 223.0192 PKR, Selling – 223.4353 PKR
The US Dollar remains a dominant force in the foreign exchange market, with a buying rate of 223.0192 PKR and a selling rate of 223.4353 PKR. This underscores the consistent demand for the US Dollar in various economic transactions and trade activities.
The Euro, another major currency, stands at 231.3647 PKR (buying) and 231.7956 PKR (selling), while the UK Pound has a buying rate of 265.4055 PKR and a selling rate of 265.8977 PKR.
Exchange rate fluctuations have significant 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 18, 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.
