KARACHI – The State Bank of Pakistan (SBP) has once again disclosed the foreign exchange rates for October 27, 2022, providing insights into the value of the Pakistani Rupee (PKR) against major international currencies.
These rates, calculated based on the weighted average rates of commercial banks, have significant implications for trade, investment, and financial activities.
As of October 27, 2022, the buying and selling rates for select foreign currencies in PKR are as follows:
• UAE Dirham (AED):
• Buying: 60.2288 PKR
• Selling: 60.3384 PKR
• Australian Dollar (AUD):
• Buying: 143.5605 PKR
• Selling: 143.8209 PKR
• Canadian Dollar (CAD):
• Buying: 162.9293 PKR
• Selling: 163.2193 PKR
• Swiss Franc (CHF):
• Buying: 223.9280 PKR
• Selling: 224.3370 PKR
• Chinese Yuan (CNY):
• Buying: 30.6409 PKR
• Selling: 30.6942 PKR
• Euro (EUR):
• Buying: 222.5273 PKR
• Selling: 222.9389 PKR
• UK Pound (GBP):
• Buying: 256.5032 PKR
• Selling: 256.9832 PKR
• Japanese Yen (JPY):
• Buying: 1.5174 PKR
• Selling: 1.5202 PKR
• Saudi Riyal (SAR):
• Buying: 58.8187 PKR
• Selling: 58.9289 PKR
• US Dollar (USD):
• Buying: 221.0703 PKR
• Selling: 221.4864 PKR
These rates reflect the dynamic nature of the foreign exchange market and can have a profound impact on various economic sectors. The USD to PKR exchange rate, for instance, stands at 221.0703 PKR for buying and 221.4864 PKR for selling on this specific date.
The exchange rates are crucial for businesses involved in international trade, as they directly influence the cost of imports and exports. Investors also closely monitor these rates, as they play a role in determining the attractiveness of different markets for investment.
The State Bank of Pakistan’s release of these rates is a part of its commitment to transparency and providing timely information to the public and stakeholders. Central banks around the world often adjust their exchange rates to maintain economic stability, and these updates help the business community and policymakers to make informed decisions.
Economic analysts will study these rates to understand trends, evaluate 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 regular updates on foreign exchange rates play a critical role in navigating the complexities of international finance and trade.
