The State Bank of Pakistan (SBP) has published the foreign exchange rates for September 20, 2022, providing insights into the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).
Based on the weighted average rates of commercial banks, these rates serve as crucial indicators 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, establishing a basis for commercial transactions. In turn, commercial banks offer indicative exchange rates to facilitate smooth financial dealings with their customers.
As of September 20, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:
1. UAE Dirham (AED)
• Buying: 65.0263 PKR
• Selling: 65.1320 PKR
2. Australian Dollar (AUD)
• Buying: 160.4438 PKR
• Selling: 160.7216 PKR
3. Canadian Dollar (CAD)
• Buying: 180.0967 PKR
• Selling: 180.3928 PKR
4. Swiss Franc (CHF)
• Buying: 247.5120 PKR
• Selling: 247.9427 PKR
5. Chinese Yuan (CNY)
• Buying: 34.0582 PKR
• Selling: 34.1121 PKR
6. Euro (EUR)
• Buying: 239.4573 PKR
• Selling: 239.8766 PKR
7. UK Pound (GBP)
• Buying: 273.0944 PKR
• Selling: 273.5823 PKR
8. Japanese Yen (JPY)
• Buying: 1.6646 PKR
• Selling: 1.6675 PKR
9. Saudi Riyal (SAR)
• Buying: 63.4732 PKR
• Selling: 63.5839 PKR
10. US Dollar (USD)
• Buying: 238.6748 PKR
• Selling: 239.0909 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.
