In its latest announcement, the State Bank of Pakistan (SBP) has unveiled the foreign exchange rates for September 12, 2022, based on the weighted average rates of commercial banks.
The SBP, on Monday, made public the exchange rates compiled from various commercial banks, emphasizing that the data is intended for informational purposes only. These rates represent estimates provided by commercial banks to their clients, serving as a reference for buying and selling foreign currencies in Pakistan Rupee (PKR).
Commercial banks play a pivotal role in facilitating commercial transactions, offering indicative exchange rates to customers engaged in international trade.
Below are the buying and selling rates of various foreign currencies against the Pakistani Rupee:
• UAE Dirham (AED):
• Buying: PKR 62.6418
• Selling: PKR 62.7436
• Australian Dollar (AUD):
• Buying: PKR 157.8277
• Selling: PKR 158.0884
• Canadian Dollar (CAD):
• Buying: PKR 176.7840
• Selling: PKR 177.0766
• Swiss Franc (CHF):
• Buying: PKR 240.0387
• Selling: PKR 240.4359
• Chinese Yuan (CNY):
• Buying: PKR 33.2104
• Selling: PKR 33.2658
• Euro (EUR):
• Buying: PKR 233.0441
• Selling: PKR 233.4446
• UK Pound (GBP):
• Buying: PKR 267.8688
• Selling: PKR 268.3270
• Japanese Yen (JPY):
• Buying: PKR 1.6070
• Selling: PKR 1.6097
• Saudi Riyal (SAR):
• Buying: PKR 61.1930
• Selling: PKR 61.2947
• US Dollar (USD):
• Buying: PKR 229.9270
• Selling: PKR 230.3217
The provided rates serve as crucial benchmarks for businesses and individuals involved in international transactions. As the data is based on the weighted average rates of commercial banks, it reflects the market sentiment and the demand and supply dynamics of the foreign exchange market.
The release of these exchange rates underscores the transparency and openness of the State Bank of Pakistan, which plays a pivotal role in regulating and supervising the financial and monetary system in the country. Importers, exporters, and other stakeholders can utilize this information to make informed decisions and manage their currency-related risks effectively.
It’s important to note that exchange rates are subject to fluctuations due to various economic factors, geopolitical events, and global market conditions. Therefore, businesses and investors are encouraged to stay vigilant and monitor updates from the State Bank of Pakistan for any changes in the exchange rate scenario.
In conclusion, the SBP’s disclosure of the foreign exchange rates for September 12, 2022, reinforces its commitment to providing timely and accurate information to the public, fostering a transparent and stable financial environment in Pakistan.
