On Thursday, September 22, 2022, the State Bank of Pakistan (SBP) issued the foreign exchange rates for customers, revealing 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 crucial for individuals and businesses involved 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 provided by various commercial banks to their clients, offering an indicative reference for commercial transactions involving foreign currencies.
As of September 22, 2022, the buying and selling rates for major foreign currencies in PKR are as follows:
• UAE Dirham (AED):
• Buying: 65.2465 PKR
• Selling: 65.3512 PKR
• Australian Dollar (AUD):
• Buying: 157.7588 PKR
• Selling: 158.0240 PKR
• Canadian Dollar (CAD):
• Buying: 177.0278 PKR
• Selling: 177.3253 PKR
• Swiss Franc (CHF):
• Buying: 247.9751 PKR
• Selling: 248.3961 PKR
• Chinese Yuan (CNY):
• Buying: 248.3961 PKR
• Selling: 233.8427 PKR
• Euro (EUR):
• Buying: 235.3458 PKR
• Selling: 235.7449 PKR
• UK Pound (GBP):
• Buying: 269.0119 PKR
• Selling: 269.4796 PKR
• Japanese Yen (JPY):
• Buying: 1.6478 PKR
• Selling: 1.6505 PKR
• Saudi Riyal (SAR):
• Buying: 63.6616 PKR
• Selling: 63.7681 PKR
• US Dollar (USD):
• Buying: 239.4842 PKR
• Selling: 239.9003 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.
