Customers’ exchange rates on December 16, 2021

Customers’ exchange rates on December 16, 2021

Karachi, Pakistan – On Thursday, the State Bank of Pakistan (SBP) released the official exchange rates for December 16, 2021, offering valuable insights for customers engaged in international transactions.

The rates are determined based on the weighted averages provided by commercial banks, influencing currency conversions for individuals and businesses.

The SBP clarified that the data is compiled and disseminated strictly for informational purposes. These exchange rates are approximations quoted by various commercial banks to their clients, acting as a reference for currency transactions in the market.

Commercial banks play a pivotal role by furnishing indicative exchange rates for commercial transactions with customers, impacting the cost of goods and services in the international market. The rates influence businesses and consumers alike.

Here are the buying and selling rates for selected currencies as of December 16, 2021:

• AED (United Arab Emirates Dirham): Buying 48.4433, Selling 48.5538

• AUD (Australian Dollar): Buying 127.2951, Selling 127.5914

• CAD (Canadian Dollar): Buying 138.4870, Selling 138.8025

• CHF (Swiss Franc): Buying 192.1982, Selling 192.6284

• CNY (Chinese Yuan): Buying 27.9595, Selling 28.0197

• EUR (Euro): Buying 200.7293, Selling 201.1916

• GBP (British Pound): Buying 235.5449, Selling 236.1058

• JPY (Japanese Yen): Buying 1.5575, Selling 1.5611

• SAR (Saudi Riyal): Buying 47.3981, Selling 47.5055

• USD (United States Dollar): Buying 177.8033, Selling 178.2261

These rates signify 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 vary due to market dynamics, geopolitical events, and economic indicators.

The SBP emphasized that the information shared is for reference only, and customers are urged to verify the rates with their respective banks before participating in any currency transactions.

As currency exchange rates continue to play a vital role in the global economy, businesses and individuals are encouraged to monitor these rates regularly for making well-informed financial decisions in the ever-evolving landscape of global markets.