Karachi, August 1, 2023: The State Bank of Pakistan (SBP) on Tuesday issued foreign exchange rates for August 1, 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 |
| UAE Dirham (AED) | 78.1283 | 78.2365 |
| Australian Dollar (AUD) | 191.0152 | 191.2848 |
| Canadian Dollar (CAD) | 216.8102 | 217.1162 |
| Swiss Franc (CHF) | 328.7026 | 329.1748 |
| Chinese Yuan (CNY) | 40.0401 | 40.0901 |
| Euro (EUR) | 315.1796 | 315.6389 |
| UK Pound (GBP) | 367.9096 | 368.4434 |
| Japanese Yen (JPY) | 2.0099 | 2.0127 |
| Saudi Riyal (SAR) | 76.4492 | 76.5554 |
| US Dollar (USD) | 286.7674 | 287.1835 |
The SBP’s weighted average exchange rates provide an important reference for businesses, financial institutions and individuals dealing with foreign currencies. The rates reflect transactions reported by commercial banks and offer an indication of prevailing currency values against the Pakistani rupee. The buying rate represents the rate at which banks purchase foreign currency, while the selling rate indicates the rate at which they sell it. Exchange rates may fluctuate in response to changes in international currency markets, domestic economic conditions, trade flows and foreign exchange demand and supply. Importers, exporters and other market participants regularly monitor these rates when assessing the rupee value of international transactions and financial obligations. The published rates may also serve as a useful benchmark for daily foreign exchange calculations.