The State Bank of Pakistan (SBP) has provided customers with the latest foreign exchange rates for August 30, 2022.
These rates, based on the weighted average rates of commercial banks, offer valuable insights for businesses and individuals engaged in international transactions.
The SBP clarified that the data is compiled and disseminated for informational purposes only. These exchange rates are estimates quoted by various commercial banks to their clients, providing indicative rates for commercial transactions.
Here is the breakdown of the buying and selling rates of foreign currencies against the Pakistani Rupee (PKR) as of August 30, 2022:
• UAE Dirham (AED):
• Buying: PKR 59.9088
• Selling: PKR 60.0198
• Australian Dollar (AUD):
• Buying: PKR 151.6971
• Selling: PKR 151.9773
• Canadian Dollar (CAD):
• Buying: PKR 169.0741
• Selling: PKR 169.3798
• Swiss Franc (CHF):
• Buying: PKR 227.3435
• Selling: PKR 227.7696
• Chinese Yuan (CNY):
• Buying: PKR 31.8122
• Selling: PKR 31.8681
• Euro (EUR):
• Buying: PKR 219.9444
• Selling: PKR 220.3657
• UK Pound (GBP):
• Buying: PKR 257.4433
• Selling: PKR 257.9239
• Japanese Yen (JPY):
• Buying: PKR 1.5877
• Selling: PKR 1.5906
• Saudi Riyal (SAR):
• Buying: PKR 58.5540
• Selling: PKR 58.6637
• US Dollar (USD):
• Buying: PKR 219.8924
• Selling: PKR 220.3152
These exchange rates are instrumental for businesses engaged in international trade, offering guidance for decision-making on currency conversions. The SBP’s commitment to transparency is evident in the timely release of this information, reflecting the market dynamics influenced by the weighted average rates of commercial banks.
It’s important to note that exchange rates are subject to fluctuations due to various economic factors, geopolitical events, and global market conditions. Therefore, individuals and businesses involved in cross-border transactions are advised to stay informed and regularly monitor updates from the State Bank of Pakistan.
The SBP’s proactive role in providing accurate and timely information contributes to the stability and transparency of the financial system in Pakistan. As the global economic landscape continues to evolve, access to reliable exchange rate information becomes increasingly crucial for businesses to navigate risks and make well-informed financial decisions.
