KARACHI – The State Bank of Pakistan (SBP) has issued the foreign exchange rates for October 18, 2022, providing insights into the value of the Pakistani Rupee (PKR) against major international currencies.
These rates, based on the weighted average rates of commercial banks, are integral for businesses, investors, and individuals engaged in cross-border transactions.
As of October 18, 2022, the buying and selling rates for specific foreign currencies in PKR are as follows:
• UAE Dirham (AED):
• Buying: 59.8149 PKR
• Selling: 59.9195 PKR
• Australian Dollar (AUD):
• Buying: 138.6142 PKR
• Selling: 138.8673 PKR
• Canadian Dollar (CAD):
• Buying: 160.3906 PKR
• Selling: 160.6833 PKR
• Swiss Franc (CHF):
• Buying: 221.0565 PKR
• Selling: 221.4558 PKR
• Chinese Yuan (CNY):
• Buying: 30.5451 PKR
• Selling: 30.5964 PKR
• Euro (EUR):
• Buying: 216.5629 PKR
• Selling: 216.9671 PKR
• UK Pound (GBP):
• Buying: 249.4901 PKR
• Selling: 249.9624 PKR
• Japanese Yen (JPY):
• Buying: 1.4747 PKR
• Selling: 1.4773 PKR
• Saudi Riyal (SAR):
• Buying: 58.4344 PKR
• Selling: 58.5440 PKR
• US Dollar (USD):
• Buying: 219.5491 PKR
• Selling: 219.9652 PKR
These exchange rates act as a vital economic indicator, influencing trade, investments, and financial markets. The USD to PKR exchange rate, a key benchmark for international transactions, stands at 219.5491 PKR for buying and 219.9652 PKR for selling on this specific date.
Fluctuations in exchange rates can have far-reaching effects on various sectors of the economy. A stronger PKR may make imports more affordable but could pose challenges for exporters. Conversely, a weaker PKR might boost exports but may increase the cost of imported goods.
The SBP’s regular updates on exchange rates contribute to the transparency of the foreign exchange market, allowing businesses and investors to make well-informed decisions. Central banks, including the SBP, often intervene in the foreign exchange market to stabilize their national currencies and ensure economic stability.
Economic analysts will closely scrutinize these rates to discern trends, potential impacts on the domestic economy, and offer insights into the broader economic landscape. As the global economic environment continues to evolve, the SBP’s timely and accurate information on foreign exchange rates remains vital for navigating the complexities of international finance and trade.
