State Bank’s foreign exchange rates – September 02, 2022

State Bank’s foreign exchange rates – September 02, 2022

The State Bank of Pakistan (SBP) has published the foreign exchange rates for September 02, 2022, offering crucial insights into the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).

These rates, calculated based on the weighted average rates of commercial banks, are instrumental for businesses, investors, and individuals participating in international trade and financial transactions.

The SBP emphasized that the data is compiled and disseminated exclusively for informational purposes. These exchange rates represent estimates quoted by various commercial banks to their clients, forming the foundation for commercial transactions. Commercial banks reciprocate by providing indicative exchange rates to facilitate seamless financial dealings with their customers.

As of September 02, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:

1. UAE Dirham (AED)

• Buying: 59.6941 PKR

• Selling: 59.8032 PKR

2. Australian Dollar (AUD)

• Buying: 148.7374 PKR

• Selling: 149.0046 PKR

3. Canadian Dollar (CAD)

• Buying: 166.5028 PKR

• Selling: 166.8016 PKR

4. Swiss Franc (CHF)

• Buying: 223.4653 PKR

• Selling: 223.8783 PKR

5. Chinese Yuan (CNY)

• Buying: 31.7586 PKR

• Selling: 31.8129 PKR

6. Euro (EUR)

• Buying: 218.4905 PKR

• Selling: 218.9060 PKR

7. UK Pound (GBP)

• Buying: 252.9471 PKR

• Selling: 253.4147 PKR

8. Japanese Yen (JPY)

• Buying: 1.5617 PKR

• Selling: 1.5647 PKR

9. Saudi Riyal (SAR)

• Buying: 58.3194 PKR

• Selling: 58.4296 PKR

10. US Dollar (USD)

• Buying: 219.1106 PKR

• Selling: 219.5267 PKR

These exchange rates are integral for businesses involved in international trade, impacting the cost of imported goods and the revenue generated from exports. Individuals engaged 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.