The State Bank of Pakistan (SBP) released the foreign exchange rates for September 16, 2022, shedding light 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 are vital for businesses, investors, and individuals engaged in international trade and financial transactions.
The SBP emphasized that the data is compiled and disseminated exclusively for informational purposes. These exchange rates are estimates quoted by various commercial banks to their clients, providing a foundation for commercial transactions. Commercial banks, in turn, offer indicative exchange rates to facilitate smooth financial dealings with their customers.
As of September 16, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:
1. UAE Dirham (AED)
• Buying: 64.4815 PKR
• Selling: 64.5892 PKR
2. Australian Dollar (AUD)
• Buying: 158.5760 PKR
• Selling: 158.8457 PKR
3. Canadian Dollar (CAD)
• Buying: 178.4677 PKR
• Selling: 178.7705 PKR
4. Swiss Franc (CHF)
• Buying: 245.6861 PKR
• Selling: 246.1084 PKR
5. Chinese Yuan (CNY)
• Buying: 33.7549 PKR
• Selling: 33.8089 PKR
6. Euro (EUR)
• Buying: 236.4639 PKR
• Selling: 236.8819 PKR
7. UK Pound (GBP)
• Buying: 270.4288 PKR
• Selling: 270.9141 PKR
8. Japanese Yen (JPY)
• Buying: 1.6498 PKR
• Selling: 1.6526 PKR
9. Saudi Riyal (SAR)
• Buying: 63.0006 PKR
• Selling: 63.1078 PKR
10. US Dollar (USD)
• Buying: 236.6750 PKR
• Selling: 237.0911 PKR
These exchange rates are instrumental 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 depend on these rates to make informed financial decisions.
The SBP advises 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.
