Karachi, Pakistan – On Wednesday, the State Bank of Pakistan (SBP) unveiled the official exchange rates for December 22, 2021, providing customers with essential information based on the weighted average rates of commercial banks.
This disclosure is vital for individuals and businesses involved in international trade or currency conversions.
As per the SBP, the data is compiled and disseminated for informational purposes only. These exchange rates represent estimates quoted by various commercial banks to their clients, acting as benchmarks for currency transactions in the market.
Commercial banks play a crucial role in the foreign exchange market by providing indicative exchange rates for commercial transactions with customers. These rates influence the 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 22, 2021:
• AED (United Arab Emirates Dirham): Buying 48.4750, Selling 48.5860
• AUD (Australian Dollar): Buying 126.8535, Selling 127.1482
• CAD (Canadian Dollar): Buying 137.7855, Selling 138.0927
• CHF (Swiss Franc): Buying 192.5101, Selling 192.9406
• CNY (Chinese Yuan): Buying 27.9581, Selling 28.0183
• EUR (Euro): Buying 200.5815, Selling 201.0501
• GBP (British Pound): Buying 235.7377, Selling 236.2896
• JPY (Japanese Yen): Buying 1.5589, Selling 1.5625
• SAR (Saudi Riyal): Buying 47.3942, Selling 47.5030
• USD (United States Dollar): Buying 177.9267, Selling 178.3495
These rates reflect 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 released 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 encouraged to monitor these rates regularly to make informed decisions and manage currency-related risks effectively.
In conclusion, the State Bank of Pakistan’s release of exchange rates for December 22, 2021, is a critical resource for customers navigating international transactions. Staying informed about currency exchange rates remains essential for making well-informed financial decisions in the dynamic landscape of global markets.
