KARACHI, August 16, 2022 — The State Bank of Pakistan (SBP) has released the foreign exchange rates for customers on this Tuesday, based on the weighted average rates of commercial banks.
The data, compiled and disseminated by the SBP, serves as an informational reference for customers engaging in commercial transactions.
The foreign exchange rates provided by the SBP are estimates quoted by various commercial banks to their clients. These indicative rates are crucial for businesses and individuals involved in international trade, investment, and other financial activities.
The buying and selling rates for a range of foreign currencies in Pakistan Rupee (PKR) as of August 16, 2022, are as follows:
• AED (United Arab Emirates Dirham):
• Buying: PKR 58.1518
• Selling: PKR 58.2612
• AUD (Australian Dollar):
• Buying: PKR 149.9156
• Selling: PKR 150.2014
• CAD (Canadian Dollar):
• Buying: PKR 165.4606
• Selling: PKR 165.7708
• CHF (Swiss Franc):
• Buying: PKR 225.5312
• Selling: PKR 225.9652
• CNY (Chinese Yuan):
• Buying: PKR 31.4470
• Selling: PKR 31.5043
• EUR (Euro):
• Buying: PKR 216.9139
• Selling: PKR 217.3456
• GBP (British Pound Sterling):
• Buying: PKR 257.1661
• Selling: PKR 257.6689
• JPY (Japanese Yen):
• Buying: PKR 1.5999
• Selling: PKR 1.6030
• SAR (Saudi Riyal):
• Buying: PKR 56.8466
• Selling: PKR 56.9545
• USD (United States Dollar):
• Buying: PKR 213.4421
• Selling: PKR 213.8649
The SBP emphasizes that these rates are indicative and provided by commercial banks for informational purposes. Banks offer these rates as an estimate for their clients engaged in various commercial transactions. The foreign exchange market plays a vital role in facilitating international trade and investment by providing a mechanism for converting one currency into another.
Market participants, including businesses, investors, and individuals, closely monitor these rates to make informed decisions related to currency exchange and financial transactions. Fluctuations in exchange rates can have significant implications for cross-border trade, investment returns, and overall economic stability.
It is important for customers and market participants to stay updated on the latest foreign exchange rates, as they are subject to change based on various economic factors, geopolitical events, and market dynamics. The SBP continues to play a key role in ensuring transparency and efficiency in the foreign exchange market, contributing to the overall stability of the Pakistani economy.
