State Bank’s foreign exchange rates – September 08, 2022

State Bank’s foreign exchange rates – September 08, 2022

The State Bank of Pakistan (SBP) has released the foreign exchange rates for September 08, 2022, providing customers with a basis for their international transactions.

The rates are derived from the weighted averages of commercial banks and have been issued to the public for informational purposes.

The data shared by the SBP emphasizes that these exchange rates are estimations provided by various commercial banks to their clients. Commercial banks play a pivotal role in offering indicative exchange rates for commercial transactions, serving as a crucial reference for businesses and individuals involved in international trade.

Below are the buying and selling rates of different foreign currencies against the Pakistani Rupee on September 08, 2022:

• UAE Dirham (AED):

• Buying: PKR 61.4021

• Selling: PKR 61.5095

• Australian Dollar (AUD):

• Buying: PKR 152.1045

• Selling: PKR 152.3758

• Canadian Dollar (CAD):

• Buying: PKR 171.8337

• Selling: PKR 172.1333

• Swiss Franc (CHF):

• Buying: PKR 230.8079

• Selling: PKR 231.2228

• Chinese Yuan (CNY):

• Buying: PKR 32.4033

• Selling: PKR 32.4578

• Euro (EUR):

• Buying: PKR 225.2971

• Selling: PKR 225.7145

• UK Pound (GBP):

• Buying: PKR 259.3551

• Selling: PKR 259.8205

• Japanese Yen (JPY):

• Buying: PKR 1.5674

• Selling: PKR 1.5702

• Saudi Riyal (SAR):

• Buying: PKR 59.9677

• Selling: PKR 60.0753

• US Dollar (USD):

• Buying: PKR 225.3709

• Selling: PKR 225.7870

These rates are instrumental in guiding businesses and individuals in their financial decision-making, especially those engaged in cross-border transactions. The SBP’s disclosure of this information underscores the transparency and openness in the financial system, allowing stakeholders to make informed choices.

It’s important for market participants to note that exchange rates can be subject to fluctuations due to various economic factors, geopolitical events, and global market conditions. Therefore, businesses and investors are advised to stay vigilant and keep abreast of updates from the State Bank of Pakistan to navigate potential shifts in the exchange rate landscape.

The SBP’s commitment to providing timely and accurate information reflects its role in maintaining a stable and transparent financial environment in Pakistan. As businesses continue to navigate the complexities of the global economy, having access to reliable exchange rate information is critical for making sound financial decisions and managing risks effectively.