KARACHI — The National Bank of Pakistan (NBP), specifically through its Treasury Management Division, announced the latest foreign exchange rates on Tuesday, June 23. This update outlines the current buying and selling prices for various international currencies, vital for businesses, investors, and individuals engaged in currency transactions.
Current Currency Rates
The latest NBP announcement details the following major currencies and their rates:
- US Dollar (USD): Selling at 278.60 PKR, buying at 278.10 PKR
- Euro (EUR): Selling at 318.38 PKR, buying at 317.81 PKR
- British Pound (GBP): Selling at 368.99 PKR, buying at 368.33 PKR
Other Currencies
Rates for additional currencies include the Japanese Yen (JPY) at a selling price of 1.7244 PKR and buying rate of 1.7213 PKR. The Swiss Franc (CHF) sells at 344.54 PKR, buying at 343.92 PKR. The Canadian Dollar (CAD) is available at 196.67 PKR for selling and 196.31 PKR for buying. The Australian Dollar (AUD) is priced at 194.32 PKR for selling and 193.97 PKR for buying.
Asian and Middle Eastern Currencies
For Asian currencies, the Korean Won (KRW) sells at 0.1815 PKR, and the Chinese Yuan (CNY) at 41.09 PKR. The Malaysian Ringgit (MYR) lists at 67.34 PKR for selling. Middle Eastern currencies like the UAE Dirham (AED) sell at 75.86 PKR, and the Saudi Riyal (SAR) at 74.21 PKR. The Qatari Riyal (QAR) is at 76.45 PKR, with the highest being the Kuwaiti Dinar (KWD) at 905.72 PKR.
Fixed Currency Deposits
Conversion rates for frozen foreign currency deposits are noted with the USD at 278.1921 PKR, GBP at 366.9631 PKR, and EUR at 318.3908 PKR. The JPY conversion is 1.72 PKR.
Background on Currency Updates
NBP consistently updates its foreign exchange rates, reflecting market conditions crucial for importers, exporters, and general currency transactions. The Treasury Management Division monitors and sets these rates based on global trends. Pakistan’s foreign exchange market has historically been influenced by trade balances, foreign investments, and geopolitical factors.
Relevance to the Economy
These updated exchange rates are essential benchmarks for international trade and financial decisions. They impact the cost of imports, exports, and ultimately the economy’s stability. A high USD rate affects import costs and inflation, influencing consumer prices across Pakistan.
