The State Bank of Pakistan (SBP) has released the foreign exchange rates for August 22, 2022, providing valuable information on the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).
Calculated based on the weighted average rates of commercial banks, these rates are crucial for businesses, investors, and individuals involved in international trade and financial transactions.
The SBP emphasized that the data is compiled and disseminated solely for informational purposes. These exchange rates represent estimates quoted by various commercial banks to their clients, forming the foundation for commercial transactions. In return, commercial banks furnish indicative exchange rates to facilitate seamless financial dealings with their customers.
As of August 22, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:
1. UAE Dirham (AED)
• Buying: 58.9605 PKR
• Selling: 59.0696 PKR
2. Australian Dollar (AUD)
• Buying: 149.3837 PKR
• Selling: 149.6639 PKR
3. Canadian Dollar (CAD)
• Buying: 166.5154 PKR
• Selling: 166.8287 PKR
4. Swiss Franc (CHF)
• Buying: 225.5979 PKR
• Selling: 226.0266 PKR
5. Chinese Yuan (CNY)
• Buying: 31.6710 PKR
• Selling: 31.7275 PKR
6. Euro (EUR)
• Buying: 216.8323 PKR
• Selling: 217.2516 PKR
7. UK Pound (GBP)
• Buying: 255.6716 PKR
• Selling: 256.1687 PKR
8. Japanese Yen (JPY)
• Buying: 1.5797 PKR
• Selling: 1.5827 PKR
9. Saudi Riyal (SAR)
• Buying: 57.6302 PKR
• Selling: 57.7386 PKR
10. US Dollar (USD)
• Buying: 216.4072 PKR
• Selling: 216.8300 PKR
These exchange rates are integral for businesses engaged in international trade, influencing the cost of imported goods and the revenue generated from exports. Individuals involved in foreign investments and travel also rely on these rates to make informed financial decisions.
The SBP encourages market participants to exercise caution and stay informed about the latest developments in the foreign exchange market. As the global economic landscape continues to evolve, the central bank remains dedicated to ensuring transparency and providing timely information to support the stability of the national currency and foster economic growth.
Market participants are urged to regularly monitor these rates, as they are subject to fluctuations based on international economic trends and geopolitical events. The SBP will continue to closely observe market conditions and make necessary adjustments to promote a resilient and robust foreign exchange market in Pakistan.
