The State Bank of Pakistan (SBP) released the foreign exchange rates for September 26, 2022, providing a glimpse into the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).
These rates, based on the weighted average rates of commercial banks, serve as critical benchmarks for businesses, investors, and individuals involved in international trade and financial transactions.
The SBP clarified that the data is compiled and disseminated exclusively for informational purposes. These exchange rates are estimates quoted by various commercial banks to their clients, serving as a foundation for commercial transactions. In return, commercial banks furnish indicative exchange rates to facilitate seamless financial dealings with their customers.
As of September 26, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:
1. UAE Dirham (AED)
• Buying: 64.4645 PKR
• Selling: 64.5719 PKR
2. Australian Dollar (AUD)
• Buying: 153.7996 PKR
• Selling: 154.0606 PKR
3. Canadian Dollar (CAD)
• Buying: 173.7469 PKR
• Selling: 174.0419 PKR
4. Swiss Franc (CHF)
• Buying: 240.2595 PKR
• Selling: 240.6702 PKR
5. Chinese Yuan (CNY)
• Buying: 33.0625 PKR
• Selling: 33.1143 PKR
6. Euro (EUR)
• Buying: 228.4040 PKR
• Selling: 228.8084 PKR
7. UK Pound (GBP)
• Buying: 251.5527 PKR
• Selling: 251.9965 PKR
8. Japanese Yen (JPY)
• Buying: 1.6439 PKR
• Selling: 1.6467 PKR
9. Saudi Riyal (SAR)
• Buying: 62.9483 PKR
• Selling: 63.0561 PKR
10. US Dollar (USD)
• Buying: 236.6131 PKR
• Selling: 237.0292 PKR
These exchange rates are instrumental for businesses engaged in international trade, impacting the cost of imported goods and the revenue generated from exports. Individuals involved in foreign investments and travel also rely on these rates to make informed financial decisions.
The SBP encourages 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 advised 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.