The State Bank of Pakistan (SBP) has unveiled the foreign exchange rates for August 25, 2022, presenting valuable information on the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).
Based on the weighted average rates of commercial banks, these rates are essential for businesses, investors, and individuals engaged in international trade and financial transactions.
The SBP clarified that the data is compiled and disseminated exclusively for informational purposes. These exchange rates are estimates quoted by various commercial banks to their clients, serving as a foundation for commercial transactions. In return, commercial banks provide indicative exchange rates to facilitate seamless financial dealings with their customers.
As of August 25, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:
1. UAE Dirham (AED)
• Buying: 59.7630 PKR
• Selling: 59.8712 PKR
2. Australian Dollar (AUD)
• Buying: 152.7600 PKR
• Selling: 153.0392 PKR
3. Canadian Dollar (CAD)
• Buying: 169.6324 PKR
• Selling: 169.9472 PKR
4. Swiss Franc (CHF)
• Buying: 227.7269 PKR
• Selling: 228.1400 PKR
5. Chinese Yuan (CNY)
• Buying: 32.0461 PKR
• Selling: 32.1030 PKR
6. Euro (EUR)
• Buying: 219.5336 PKR
• Selling: 219.9593 PKR
7. UK Pound (GBP)
• Buying: 259.7285 PKR
• Selling: 260.2278 PKR
8. Japanese Yen (JPY)
• Buying: 1.6050 PKR
• Selling: 1.6081 PKR
9. Saudi Riyal (SAR)
• Buying: 58.3540 PKR
• Selling: 58.4680 PKR
10. US Dollar (USD)
• Buying: 219.3487 PKR
• Selling: 219.7715 PKR
These exchange rates play a pivotal role for businesses involved in international trade, influencing the cost of imported goods and the revenue generated from exports. Individuals engaged 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.