State Bank’s foreign exchange rates – September 29, 2022

State Bank’s foreign exchange rates – September 29, 2022

The State Bank of Pakistan (SBP) released the foreign exchange rates for September 29, 2022, offering a snapshot of the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).

Based on the weighted average rates of commercial banks, these rates are critical for businesses, investors, and individuals involved in international trade and financial transactions.

The SBP reiterated that the data is compiled and disseminated solely for informational purposes. These exchange rates are estimates quoted by various commercial banks to their clients, providing a basis for commercial transactions. Commercial banks, in turn, furnish indicative exchange rates to facilitate seamless financial dealings with their customers.

As of September 29, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:

1. UAE Dirham (AED)

• Buying: 62.4775 PKR

• Selling: 62.5849 PKR

2. Australian Dollar (AUD)

• Buying: 148.3356 PKR

• Selling: 148.5956 PKR

3. Canadian Dollar (CAD)

• Buying: 167.4278 PKR

• Selling: 167.7146 PKR

4. Swiss Franc (CHF)

• Buying: 233.7473 PKR

• Selling: 234.1611 PKR

5. Chinese Yuan (CNY)

• Buying: 31.8824 PKR

• Selling: 31.9342 PKR

6. Euro (EUR)

• Buying: 221.8055 PKR

• Selling: 222.1993 PKR

7. UK Pound (GBP)

• Buying: 247.7374 PKR

• Selling: 248.1916 PKR

8. Japanese Yen (JPY)

• Buying: 1.5852 PKR

• Selling: 1.5880 PKR

9. Saudi Riyal (SAR)

• Buying: 60.9219 PKR

• Selling: 61.0350 PKR

10. US Dollar (USD)

• Buying: 229.3200 PKR

• Selling: 229.7361 PKR

These exchange rates hold significant implications for businesses engaged in international trade, influencing the cost of imported goods and the revenue generated from exports. Individuals involved in foreign investments and travelers also depend on these rates to make informed financial decisions.

The SBP advises market participants to exercise prudence and stay abreast of the latest developments in the foreign exchange market. Given the dynamic nature of the global economic landscape, the central bank remains committed 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 monitor market conditions and make necessary adjustments to promote a resilient and robust foreign exchange market in Pakistan.