In its latest announcement, the State Bank of Pakistan (SBP) issued the foreign exchange rates for October 04, 2022.
The rates, based on the weighted average rates of commercial banks, provide insights into the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).
The SBP emphasized that the data released is compiled and disseminated for informational purposes only. These exchange rates are estimates quoted by commercial banks to their clients, serving as a reference for commercial transactions with customers.
Commercial banks play a crucial role in facilitating foreign exchange transactions, and their indicative rates provide customers with a benchmark for buying and selling currencies. The rates are reflective of the dynamic nature of the global financial markets and are subject to change based on market conditions.
As of October 04, 2022, here are the buying and selling rates for select foreign currencies against the Pakistani Rupee:
1. UAE Dirham (AED)
• Buying: 61.3810 PKR
• Selling: 61.4893 PKR
2. Australian Dollar (AUD)
• Buying: 147.0400 PKR
• Selling: 147.3012 PKR
3. Canadian Dollar (CAD)
• Buying: 165.8576 PKR
• Selling: 166.1522 PKR
4. Swiss Franc (CHF)
• Buying: 227.6092 PKR
• Selling: 228.0221 PKR
5. Chinese Yuan (CNY)
• Buying: 31.7032 PKR
• Selling: 31.7600 PKR
6. Euro (EUR)
• Buying: 222.3422 PKR
• Selling: 222.7544 PKR
7. UK Pound (GBP)
• Buying: 256.1651 PKR
• Selling: 256.6378 PKR
8. Japanese Yen (JPY)
• Buying: 1.5570 PKR
• Selling: 1.5598 PKR
9. Saudi Riyal (SAR)
• Buying: 59.9436 PKR
• Selling: 60.0539 PKR
10. US Dollar (USD)
• Buying: 225.2995 PKR
• Selling: 225.7156 PKR
These rates serve as a reference point for businesses and individuals engaged in international trade, travel, and other cross-border transactions. It’s essential for market participants to stay informed about these rates, as they impact the cost of goods and services in the global market.
The SBP encourages market participants to exercise caution and stay updated on the latest developments in the foreign exchange market. The central bank remains committed to maintaining transparency and providing timely information to ensure the smooth functioning of the foreign exchange market in Pakistan.
As the global economic landscape continues to evolve, the SBP will closely monitor market conditions and make adjustments as needed to support the stability of the national currency and foster economic growth.
