Karachi, Pakistan – On Wednesday, the State Bank of Pakistan (SBP) unveiled the official exchange rates for December 15, 2021, providing customers with crucial information based on the weighted average rates of commercial banks.
These rates serve as a reference for individuals and businesses involved in international transactions, guiding them in currency conversions and cross-border dealings.
The SBP reiterated that the data is compiled and disseminated exclusively for informational purposes. These exchange rates are estimations quoted by various commercial banks to their clients, playing a vital role as benchmarks for currency transactions in the market.
Commercial banks contribute significantly by offering indicative exchange rates for commercial transactions with customers. These rates influence the overall cost of goods and services in the international market, impacting businesses and consumers alike.
Here are the buying and selling rates for selected currencies as of December 15, 2021:
• AED (United Arab Emirates Dirham): Buying 48.4324, Selling 48.5437
• AUD (Australian Dollar): Buying 126.5221, Selling 126.8061
• CAD (Canadian Dollar): Buying 138.3252, Selling 138.6399
• CHF (Swiss Franc): Buying 192.4463, Selling 192.8770
• CNY (Chinese Yuan): Buying 27.9648, Selling 28.0249
• EUR (Euro): Buying 200.3750, Selling 200.8367
• GBP (British Pound): Buying 235.4155, Selling 235.9567
• JPY (Japanese Yen): Buying 1.5632, Selling 1.5668
• SAR (Saudi Riyal): Buying 47.3896, Selling 47.4970
• USD (United States Dollar): Buying 177.7650, Selling 178.1878
These rates represent the exchange values provided 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 pivotal role in the global economy, businesses and individuals are urged to monitor these rates regularly to make well-informed financial decisions in the dynamic landscape of global markets.
