The State Bank of Pakistan (SBP) has released the foreign exchange rates for September 05, 2022, presenting crucial information on the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).
Based on the weighted average rates of commercial banks, these rates 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 represent 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 05, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:
1. UAE Dirham (AED)
• Buying: 59.7355 PKR
• Selling: 59.8445 PKR
2. Australian Dollar (AUD)
• Buying: 148.8460 PKR
• Selling: 149.1146 PKR
3. Canadian Dollar (CAD)
• Buying: 166.6951 PKR
• Selling: 167.0026 PKR
4. Swiss Franc (CHF)
• Buying: 223.2027 PKR
• Selling: 223.6152 PKR
5. Chinese Yuan (CNY)
• Buying: 31.6301 PKR
• Selling: 31.6844 PKR
6. Euro (EUR)
• Buying: 217.0827 PKR
• Selling: 217.4954 PKR
7. UK Pound (GBP)
• Buying: 251.3438 PKR
• Selling: 251.8189 PKR
8. Japanese Yen (JPY)
• Buying: 1.5617 PKR
• Selling: 1.5646 PKR
9. Saudi Riyal (SAR)
• Buying: 58.3364 PKR
• Selling: 58.4466 PKR
10. US Dollar (USD)
• Buying: 219.2583 PKR
• Selling: 219.6744 PKR
These exchange rates are pivotal for businesses involved in international trade, influencing 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.
