On Wednesday, September 21, 2022, the State Bank of Pakistan (SBP) unveiled the foreign exchange rates for customers, outlining the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
These rates, calculated based on the weighted average rates of commercial banks, play a crucial role for individuals and businesses engaged 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, offering an indicative reference for commercial transactions involving foreign currencies.
As of September 21, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• UAE Dirham (AED):
• Buying: 65.2553 PKR
• Selling: 65.3616 PKR
• Australian Dollar (AUD):
• Buying: 159.6492 PKR
• Selling: 159.9172 PKR
• Canadian Dollar (CAD):
• Buying: 179.0381 PKR
• Selling: 179.3343 PKR
• Swiss Franc (CHF):
• Buying: 248.1524 PKR
• Selling: 248.5729 PKR
• Chinese Yuan (CNY):
• Buying: 33.9891 PKR
• Selling: 34.0439 PKR
• Euro (EUR):
• Buying: 237.4749 PKR
• Selling: 237.8808 PKR
• UK Pound (GBP):
• Buying: 271.7367 PKR
• Selling: 272.2098 PKR
• Japanese Yen (JPY):
• Buying: 1.6676 PKR
• Selling: 1.6703 PKR
• Saudi Riyal (SAR):
• Buying: 63.6968 PKR
• Selling: 63.8029 PKR
• US Dollar (USD):
• Buying: 239.5185 PKR
• Selling: 239.9346 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.
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.
