The State Bank of Pakistan (SBP) has released the foreign exchange rates for October 03, 2022, offering insights into the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).
These rates, based on the weighted average rates of commercial banks, play a crucial role in facilitating international trade and financial transactions.
The data provided by the SBP is compiled and disseminated for informational purposes only, emphasizing that these exchange rates are estimates quoted by commercial banks to their clients. Commercial banks, in turn, provide indicative exchange rates for commercial transactions with customers, serving as a benchmark for businesses and individuals engaged in cross-border trade and other international dealings.
As of October 03, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:
1. UAE Dirham (AED)
• Buying: 61.9449 PKR
• Selling: 62.0512 PKR
2. Australian Dollar (AUD)
• Buying: 146.2277 PKR
• Selling: 146.4942 PKR
3. Canadian Dollar (CAD)
• Buying: 165.1144 PKR
• Selling: 165.4060 PKR
4. Swiss Franc (CHF)
• Buying: 230.4329 PKR
• Selling: 230.8328 PKR
5. Chinese Yuan (CNY)
• Buying: 31.9503 PKR
• Selling: 32.0070 PKR
6. Euro (EUR)
• Buying: 222.8014 PKR
• Selling: 223.2110 PKR
7. UK Pound (GBP)
• Buying: 253.8785 PKR
• Selling: 254.3417 PKR
8. Japanese Yen (JPY)
• Buying: 1.5679 PKR
• Selling: 1.5707 PKR
9. Saudi Riyal (SAR)
• Buying: 60.5321 PKR
• Selling: 60.6369 PKR
10. US Dollar (USD)
• Buying: 227.3697 PKR
• Selling: 227.7858 PKR
These exchange rates are crucial for businesses involved in international trade, as they impact the cost of imported goods and the revenue generated from exports. Additionally, individuals traveling abroad or engaged in foreign investments also rely on these rates to make informed financial decisions.
The SBP advises market participants to exercise caution and stay informed about the latest developments in the foreign exchange market. As global economic conditions evolve, the central bank remains committed to ensuring transparency and providing timely information to support the stability of the national currency and foster economic growth.
Market participants are encouraged to monitor these rates regularly, as they are subject to fluctuations based on global economic trends and geopolitical events. The SBP will continue to closely observe market conditions and make adjustments as necessary to promote a resilient and robust foreign exchange market in Pakistan.
