Karachi, February 24, 2025 – The State Bank of Pakistan (SBP) has officially released the foreign exchange rates for February 24, 2025, offering a critical reference for businesses and individuals involved in cross-border transactions. These rates, derived from the weighted averages of commercial banks, serve as a vital guide for international trade, commerce, and investment, helping streamline Pakistan’s financial dealings with the global market.
Forex rates are much more than just conversion figures. They act as crucial indicators of the broader economic landscape, shaping the decisions of businesses, investors, and individuals engaged in the global economy. By providing official exchange rates, the SBP helps ensure a transparent, structured approach to foreign transactions, fostering greater confidence among stakeholders. These rates are updated regularly, reflecting the current market conditions, which in turn enables more informed and effective financial planning.
The SBP has provided the following buying and selling rates for major foreign currencies in Pakistani Rupees (PKR) as of February 24, 2025:
- AED (UAE Dirham): Buying 76.0517 PKR, Selling 76.1492 PKR
- AUD (Australian Dollar): Buying 178.1643 PKR, Selling 178.4412 PKR
- CAD (Canadian Dollar): Buying 196.8136 PKR, Selling 197.1126 PKR
- CHF (Swiss Franc): Buying 311.6348 PKR, Selling 312.1114 PKR
- CNY (Chinese Yuan): Buying 38.5893 PKR, Selling 38.6396 PKR
- EUR (Euro): Buying 293.6386 PKR, Selling 294.0890 PKR
- GBP (British Pound): Buying 353.9552 PKR, Selling 354.5081 PKR
- JPY (Japanese Yen): Buying 1.8704 PKR, Selling 1.8733 PKR
- SAR (Saudi Riyal): Buying 74.4827 PKR, Selling 74.5939 PKR
- USD (US Dollar): Buying 279.3337 PKR, Selling 279.7655 PKR
These exchange rates reflect the latest trends in the foreign exchange market, and serve as the basis for the rates that commercial banks offer to their customers. This system is essential for facilitating international business and trade, as these rates directly affect the cost of imports, exports, and the pricing of foreign investments.
The buying and selling rates are significant because they show the price at which banks are willing to buy or sell foreign currencies. For instance, the SBP’s buying rate for the US Dollar is 279.3337 PKR, while the selling rate is 279.7655 PKR. This information helps individuals and businesses understand the costs involved when engaging in foreign currency transactions.
Foreign exchange rates are dynamic and fluctuate based on global market conditions, economic policies, and geopolitical events. As a result, it’s important for businesses and individuals to regularly check the latest SBP rates or consult their financial institutions to get accurate figures before conducting any international financial transactions.
The transparency provided by the SBP in publishing these rates aligns with its goal of fostering economic stability and promoting informed decision-making. By making these rates publicly available, the SBP enables stakeholders to navigate the global economy with greater confidence, allowing for more strategic financial planning.
In an increasingly interconnected global economy, the SBP’s role in releasing reliable and timely foreign exchange rates is indispensable. These rates facilitate smoother trade, investment, and financial dealings while supporting Pakistan’s broader economic objectives. As markets continue to evolve, the SBP’s commitment to transparency and accuracy remains crucial to ensuring Pakistan’s economic resilience and stability in the global financial ecosystem.