On Tuesday, September 13, 2022, the State Bank of Pakistan (SBP) released the foreign exchange rates for customers, detailing the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
These rates, determined based on the weighted average rates of commercial banks, are critical for individuals and businesses engaged in international trade and financial transactions.
The SBP emphasized that the data is compiled and disseminated for informational purposes only. These exchange rates are estimates quoted by various commercial banks to their clients, providing indicative references for commercial transactions involving foreign currencies.
As of September 13, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• UAE Dirham (AED):
• Buying: 63.1417 PKR
• Selling: 63.2494 PKR
• Australian Dollar (AUD):
• Buying: 159.4939 PKR
• Selling: 159.7700 PKR
• Canadian Dollar (CAD):
• Buying: 178.5669 PKR
• Selling: 178.8766 PKR
• Swiss Franc (CHF):
• Buying: 243.6298 PKR
• Selling: 244.0530 PKR
• Chinese Yuan (CNY):
• Buying: 33.4956 PKR
• Selling: 33.5505 PKR
• Euro (EUR):
• Buying: 235.0053 PKR
• Selling: 235.4168 PKR
• UK Pound (GBP):
• Buying: 271.3358 PKR
• Selling: 271.8208 PKR
• Japanese Yen (JPY):
• Buying: 1.6281 PKR
• Selling: 1.6310 PKR
• Saudi Riyal (SAR):
• Buying: 61.6724 PKR
• Selling: 61.7781 PKR
• US Dollar (USD):
• Buying: 231.7569 PKR
• Selling: 232.1730 PKR
Commercial banks play a pivotal role in facilitating international transactions by providing indicative exchange rates for commercial dealings. These rates serve as benchmarks for individuals and businesses involved in cross-border trade, travel, and financial transactions with foreign entities.
It is advised that stakeholders participating in foreign transactions stay informed about currency fluctuations. Individuals and businesses are encouraged to verify the latest and most accurate exchange rates with their respective banks before undertaking any financial activities involving foreign currencies.
The SBP’s regular disclosure of exchange rates is part of its commitment to transparency, contributing to a more informed and stable foreign exchange market in Pakistan. This initiative aligns with broader efforts to support the country’s economic stability and growth.
