Karachi, November 23, 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, based on the weighted average rates of commercial banks, play a vital role in shaping international trade, investment, and financial transactions.
As of November 23, 2022, the exchange rates for different currencies are as follows:
• UAE Dirham (AED): Buying – 60.8154 PKR, Selling – 60.9228 PKR
• Australian Dollar (AUD): Buying – 148.3995 PKR, Selling – 148.6658 PKR
• Canadian Dollar (CAD): Buying – 166.7070 PKR, Selling – 167.0421 PKR
• Swiss Franc (CHF): Buying – 234.7466 PKR, Selling – 235.1736 PKR
• Chinese Yuan (CNY): Buying – 31.2278 PKR, Selling – 31.2804 PKR
• Euro (EUR): Buying – 230.6031 PKR, Selling – 231.0265 PKR
• UK Pound (GBP): Buying – 265.3219 PKR, Selling – 265.8250 PKR
• Japanese Yen (JPY): Buying – 1.5792 PKR, Selling – 1.5820 PKR
• Saudi Riyal (SAR): Buying – 59.3936 PKR, Selling – 59.5012 PKR
• US Dollar (USD): Buying – 223.2179 PKR, Selling – 223.6340 PKR
The US Dollar remains a significant force in the foreign exchange market, with a buying rate of 223.2179 PKR and a selling rate of 223.6340 PKR. This emphasizes the sustained demand for the US Dollar in various economic transactions and trade activities.
The Euro, another major currency, stands at 230.6031 PKR (buying) and 231.0265 PKR (selling), while the UK Pound has a buying rate of 265.3219 PKR and a selling rate of 265.8250 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 23, 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.
