Karachi, November 22, 2022 – The State Bank of Pakistan (SBP) has published the foreign exchange rates for today, offering valuable insights 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 crucial role in shaping international trade, investment, and financial transactions.
As of November 22, 2022, the exchange rates for different currencies are as follows:
• UAE Dirham (AED): Buying – 60.8274 PKR, Selling – 60.9364 PKR
• Australian Dollar (AUD): Buying – 147.6386 PKR, Selling – 147.9101 PKR
• Canadian Dollar (CAD): Buying – 166.2040 PKR, Selling – 166.5025 PKR
• Swiss Franc (CHF): Buying – 233.3122 PKR, Selling – 233.7399 PKR
• Chinese Yuan (CNY): Buying – 31.2073 PKR, Selling – 31.2591 PKR
• Euro (EUR): Buying – 228.9867 PKR, Selling – 229.4073 PKR
• UK Pound (GBP): Buying – 264.4022 PKR, Selling – 264.8927 PKR
• Japanese Yen (JPY): Buying – 1.5738 PKR, Selling – 1.5766 PKR
• Saudi Riyal (SAR): Buying – 59.4183 PKR, Selling – 59.5217 PKR
• US Dollar (USD): Buying – 223.2698 PKR, Selling – 223.6858 PKR
The US Dollar continues to be a significant player in the foreign exchange market, with a buying rate of 223.2698 PKR and a selling rate of 223.6858 PKR. This underscores the persistent demand for the US Dollar in various economic transactions and trade activities.
The Euro, another major currency, stands at 228.9867 PKR (buying) and 229.4073 PKR (selling), while the UK Pound has a buying rate of 264.4022 PKR and a selling rate of 264.8927 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 22, 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.
