Karachi, November 28, 2022 – The State Bank of Pakistan (SBP) has released the foreign exchange rates for today, providing insights into 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 28, 2022, the exchange rates for different currencies are as follows:
• UAE Dirham (AED): Buying – 60.9589 PKR, Selling – 61.0685 PKR
• Australian Dollar (AUD): Buying – 149.5897 PKR, Selling – 149.8578 PKR
• Canadian Dollar (CAD): Buying – 166.4563 PKR, Selling – 166.7553 PKR
• Swiss Franc (CHF): Buying – 236.5815 PKR, Selling – 236.9984 PKR
• Chinese Yuan (CNY): Buying – 31.0852 PKR, Selling – 31.1376 PKR
• Euro (EUR): Buying – 232.1241 PKR, Selling – 232.5450 PKR
• UK Pound (GBP): Buying – 269.9879 PKR, Selling – 270.4907 PKR
• Japanese Yen (JPY): Buying – 1.6192 PKR, Selling – 1.6222 PKR
• Saudi Riyal (SAR): Buying – 59.5516 PKR, Selling – 59.6572 PKR
• US Dollar (USD): Buying – 223.7468 PKR, Selling – 224.1629 PKR
The US Dollar continues to be a major player in the foreign exchange market, with a buying rate of 223.7468 PKR and a selling rate of 224.1629 PKR. This reflects the sustained demand for the US Dollar in various economic transactions and trade activities.
The Euro, another significant currency, stands at 232.1241 PKR (buying) and 232.5450 PKR (selling), while the UK Pound has a buying rate of 269.9879 PKR and a selling rate of 270.4907 PKR.
Exchange rate fluctuations have far-reaching 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 vital 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 28, 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.
