Karachi, Pakistan – On Tuesday, the State Bank of Pakistan (SBP) disclosed the official exchange rates for December 14, 2021, offering customers valuable information based on the weighted average rates of commercial banks.
These rates act as a guide for individuals and businesses involved in international transactions, facilitating currency conversions and cross-border dealings.
The SBP reiterated that the data is compiled and disseminated solely for informational purposes. These exchange rates represent estimates quoted by various commercial banks to their clients, serving as benchmarks for currency transactions in the market.
Commercial banks play a significant role by providing indicative exchange rates for commercial transactions with customers. These rates impact the overall cost of goods and services in the international market, influencing businesses and consumers alike.
Here are the buying and selling rates for selected currencies as of December 14, 2021:
• AED (United Arab Emirates Dirham): Buying 48.4369, Selling 48.5485
• AUD (Australian Dollar): Buying 126.4031, Selling 126.6903
• CAD (Canadian Dollar): Buying 138.7337, Selling 139.0439
• CHF (Swiss Franc): Buying 192.6097, Selling 193.0527
• CNY (Chinese Yuan): Buying 27.9706, Selling 28.0304
• EUR (Euro): Buying 200.5685, Selling 201.0408
• GBP (British Pound): Buying 234.8292, Selling 235.3682
• JPY (Japanese Yen): Buying 1.5651, Selling 1.5688
• SAR (Saudi Riyal): Buying 47.3988, Selling 47.5056
• USD (United States Dollar): Buying 177.7816, Selling 178.2044
These rates represent the exchange values offered by commercial banks to their customers for buying and selling various currencies. Customers are advised to stay informed about these rates, as they can fluctuate based on market dynamics, geopolitical events, and economic indicators.
The SBP emphasized that the information shared is for reference purposes only, and customers are encouraged to verify the rates with their respective banks before engaging in any currency transactions.
As currency exchange rates continue to play a crucial role in the global economy, businesses and individuals are urged to monitor these rates regularly to make well-informed financial decisions in the ever-evolving landscape of global markets.
