On Monday, September 19, 2022, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, indicating the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
These rates, derived from the weighted average rates of commercial banks, are essential for individuals and businesses involved in international trade and financial transactions.
The SBP clarified that the data is compiled and disseminated for informational purposes only. These exchange rates are estimates provided by various commercial banks to their clients, serving as indicative references for commercial transactions involving foreign currencies.
As of September 19, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 64.8288 PKR
• Selling: 64.9335 PKR
• AUD (Australian Dollar):
• Buying: 159.2625 PKR
• Selling: 159.5327 PKR
• CAD (Canadian Dollar):
• Buying: 178.9392 PKR
• Selling: 179.2421 PKR
• CHF (Swiss Franc):
• Buying: 245.9556 PKR
• Selling: 246.3752 PKR
• CNY (Chinese Yuan):
• Buying: 33.9655 PKR
• Selling: 34.0203 PKR
• EUR (Euro):
• Buying: 237.4727 PKR
• Selling: 237.8784 PKR
• GBP (British Pound Sterling):
• Buying: 271.1595 PKR
• Selling: 271.1595 PKR
• JPY (Japanese Yen):
• Buying: 1.6607 PKR
• Selling: 1.6635 PKR
• SAR (Saudi Riyal):
• Buying: 63.3250 PKR
• Selling: 63.4323 PKR
• USD (United States Dollar):
• Buying: 237.9507 PKR
• Selling: 238.3668 PKR
Commercial banks play a vital 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.
Stakeholders participating in foreign transactions are encouraged to stay informed about currency fluctuations. Individuals and businesses are advised 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.
