The State Bank of Pakistan (SBP) has disclosed the foreign exchange rates for September 01, 2022, providing crucial information about the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).
These rates, based on the weighted average rates of commercial banks, serve as vital indicators 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, forming the basis for commercial transactions. In return, commercial banks offer indicative exchange rates to facilitate seamless financial dealings with their customers.
As of September 01, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:
1. UAE Dirham (AED)
• Buying: 59.3248 PKR
• Selling: 59.4338 PKR
2. Australian Dollar (AUD)
• Buying: 148.5033 PKR
• Selling: 148.7880 PKR
3. Canadian Dollar (CAD)
• Buying: 165.3856 PKR
• Selling: 165.6906 PKR
4. Swiss Franc (CHF)
• Buying: 222.3716 PKR
• Selling: 222.7850 PKR
5. Chinese Yuan (CNY)
• Buying: 31.5561 PKR
• Selling: 31.6115 PKR
6. Euro (EUR)
• Buying: 218.0948 PKR
• Selling: 218.5121 PKR
7. UK Pound (GBP)
• Buying: 252.2068 PKR
• Selling: 252.6902 PKR
8. Japanese Yen (JPY)
• Buying: 1.5620 PKR
• Selling: 1.5649 PKR
9. Saudi Riyal (SAR)
• Buying: 57.9333 PKR
• Selling: 58.0434 PKR
10. US Dollar (USD)
• Buying: 217.7520 PKR
• Selling: 218.1681 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 involved 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.
