Karachi, November 29, 2022 – The State Bank of Pakistan (SBP) has released the foreign exchange rates for today, providing crucial information about 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 pivotal role in influencing international trade, investment, and financial transactions.
As of November 29, 2022, the exchange rates for different currencies are as follows:
• UAE Dirham (AED): Buying – 60.9630 PKR, Selling – 61.0704 PKR
• Australian Dollar (AUD): Buying – 150.0301 PKR, Selling – 150.3063 PKR
• Canadian Dollar (CAD): Buying – 166.6058 PKR, Selling – 166.9030 PKR
• Swiss Franc (CHF): Buying – 236.2091 PKR, Selling – 236.6383 PKR
• Chinese Yuan (CNY): Buying – 31.2203 PKR, Selling – 31.2727 PKR
• Euro (EUR): Buying – 232.0869 PKR, Selling – 232.5079 PKR
• UK Pound (GBP): Buying – 268.5439 PKR, Selling – 269.0398 PKR
• Japanese Yen (JPY): Buying – 1.6160 PKR, Selling – 1.6189 PKR
• Saudi Riyal (SAR): Buying – 59.5507 PKR, Selling – 59.6583 PKR
• US Dollar (USD): Buying – 223.7604 PKR, Selling – 224.1765 PKR
The US Dollar remains a dominant force in the foreign exchange market, with a buying rate of 223.7604 PKR and a selling rate of 224.1765 PKR. This underlines the persistent demand for the US Dollar in various economic transactions and trade activities.
The Euro, another major currency, stands at 232.0869 PKR (buying) and 232.5079 PKR (selling), while the UK Pound has a buying rate of 268.5439 PKR and a selling rate of 269.0398 PKR.
Exchange rate fluctuations can have profound 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 29, 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.
