Karachi, November 3, 2023: The State Bank of Pakistan (SBP) on Friday issued foreign currency rates for November 3, 2023.
The exchange rate is on the basis of weighted average rates of commercial banks. Following are the buying and selling of foreign currencies in Pakistan Rupee (PKR):
| CURRENCY | BUYING | SELLING |
| AED – UAE Dirham | 77.3923 | 77.5036 |
| AUD – Australian Dollar | 182.8069 | 183.0871 |
| CAD – Canadian Dollar | 206.7559 | 207.0706 |
| CHF – Swiss Franc | 313.7259 | 314.2074 |
| CNY – Chinese Yuan | 38.8464 | 38.8975 |
| EUR – Euro | 301.9860 | 302.4602 |
| GBP – British Pound | 346.6451 | 347.1763 |
| JPY – Japanese Yen | 1.8899 | 1.8927 |
| SAR – Saudi Riyal | 75.7200 | 75.8341 |
| USD – US Dollar | 284.0351 | 284.4748 |
The foreign exchange rates released by the State Bank of Pakistan are calculated using the weighted average buying and selling rates submitted by commercial banks across the country. These indicative rates are published for informational purposes and may vary from the rates quoted to customers by individual banks.
Exchange rate movements are influenced by global financial markets, international trade flows, foreign exchange demand and supply, monetary policy decisions, and geopolitical developments. Importers, exporters, overseas Pakistanis, businesses, and travelers are advised to confirm the latest exchange rates with their respective banks before undertaking foreign currency transactions.
Monitoring daily currency movements helps individuals and businesses manage exchange rate risks, estimate transaction costs, and make informed decisions related to international trade, investments, remittances, and travel expenses in a dynamic foreign exchange market.