The State Bank of Pakistan (SBP) has issued the foreign exchange rates for September 30, 2022, reflecting 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 crucial for businesses, individuals, and investors engaged in international trade and financial transactions.
The SBP clarified that the data released is compiled and disseminated solely for informational purposes. These exchange rates are estimates quoted by various commercial banks to their clients, serving as reference points for commercial transactions. Commercial banks, in turn, provide indicative exchange rates to facilitate smooth financial dealings with their customers.
As of September 30, 2022, the buying and selling rates for select foreign currencies against the Pakistani Rupee are as follows:
1. UAE Dirham (AED)
• Buying: 62.0736 PKR
• Selling: 62.1815 PKR
2. Australian Dollar (AUD)
• Buying: 147.8468 PKR
• Selling: 148.1035 PKR
3. Canadian Dollar (CAD)
• Buying: 166.3009 PKR
• Selling: 166.5874 PKR
4. Swiss Franc (CHF)
• Buying: 233.2128 PKR
• Selling: 233.6277 PKR
5. Chinese Yuan (CNY)
• Buying: 32.1139 PKR
• Selling: 32.1708 PKR
6. Euro (EUR)
• Buying: 223.4922 PKR
• Selling: 223.8907 PKR
7. UK Pound (GBP)
• Buying: 253.6638 PKR
• Selling: 254.1240 PKR
8. Japanese Yen (JPY)
• Buying: 1.5768 PKR
• Selling: 1.5796 PKR
9. Saudi Riyal (SAR)
• Buying: 60.6398 PKR
• Selling: 60.7475 PKR
10. US Dollar (USD)
• Buying: 227.8385 PKR
• Selling: 228.2546 PKR
These rates play a pivotal role in determining the cost of imported goods, revenue from exports, and the overall financial landscape for businesses and individuals. With the global economy in constant flux, market participants are urged to stay informed about these rates, as they are subject to change based on international economic trends and geopolitical developments.
The SBP encourages market participants to exercise diligence and prudence in their financial transactions, considering the dynamic nature of the foreign exchange market. As Pakistan continues to navigate the challenges and opportunities in the global economic arena, the SBP remains committed 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, enabling them to make informed decisions in the ever-changing landscape of international finance. The SBP will continue to closely observe market conditions and make necessary adjustments to promote a resilient and robust foreign exchange market in Pakistan.
