KARACHI – The State Bank of Pakistan (SBP) continues its regular updates on foreign exchange rates, providing insights into the dynamics of the currency market. On October 26, 2022, the SBP issued the latest exchange rates based on the weighted average rates of commercial banks.
As of October 26, 2022, the buying and selling rates for various foreign currencies in Pakistani Rupee (PKR) are as follows:
• UAE Dirham (AED):
• Buying: 60.0793 PKR
• Selling: 60.1867 PKR
• Australian Dollar (AUD):
• Buying: 141.7915 PKR
• Selling: 142.0499 PKR
• Canadian Dollar (CAD):
• Buying: 162.3126 PKR
• Selling: 162.6111 PKR
• Swiss Franc (CHF):
• Buying: 222.1610 PKR
• Selling: 222.5702 PKR
• Chinese Yuan (CNY):
• Buying: 30.3651 PKR
• Selling: 30.4172 PKR
• Euro (EUR):
• Buying: 220.0797 PKR
• Selling: 220.4886 PKR
• UK Pound (GBP):
• Buying: 253.2261 PKR
• Selling: 253.7017 PKR
• Japanese Yen (JPY):
• Buying: 1.4918 PKR
• Selling: 1.4945 PKR
• Saudi Riyal (SAR):
• Buying: 58.6690 PKR
• Selling: 58.7766 PKR
• US Dollar (USD):
• Buying: 220.5152 PKR
• Selling: 220.9313 PKR
These rates serve as a crucial benchmark for businesses engaged in international trade, investors, and individuals involved in cross-border transactions. The exchange rates are influenced by various factors, including economic indicators, geopolitical events, and market sentiment. Central banks, including the SBP, often intervene in the foreign exchange market to stabilize their national currencies.
The USD to PKR exchange rate, a vital indicator for global trade, stands at 220.5152 PKR for buying and 220.9313 PKR for selling on this specific date. The fluctuations in exchange rates have significant implications for the economy. A stronger domestic currency can make imports more affordable but might pose challenges for exporters. On the other hand, a weaker currency can boost exports but may increase the cost of imports.
Businesses and investors closely monitor these rates to make informed decisions about international transactions and investments. The State Bank of Pakistan’s regular updates play a critical role in ensuring transparency in the foreign exchange market, facilitating smooth cross-border financial activities.
Economic analysts will scrutinize these rates to identify trends, potential impacts on the domestic economy, and offer insights into the broader economic landscape. As the global economic environment continues to evolve, the State Bank of Pakistan’s commitment to providing timely and accurate information on foreign exchange rates remains essential for navigating the complexities of international finance and trade.
