Customers’ exchange rates on December 23, 2021

Customers’ exchange rates on December 23, 2021

Karachi, Pakistan – On Thursday, the State Bank of Pakistan (SBP) released the official exchange rates for December 23, 2021, offering customers vital information based on the weighted average rates of commercial banks.

This announcement serves as a key reference for individuals and businesses engaged in international trade or currency transactions.

The SBP clarified that the data is compiled and disseminated solely for informational purposes. The exchange rates provided are estimates quoted by various commercial banks to their clients, acting as benchmarks for currency transactions in the market.

Commercial banks play a significant role in the foreign exchange market by furnishing indicative exchange rates for commercial transactions with customers. These rates impact the 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 23, 2021:

• AED (United Arab Emirates Dirham): Buying 48.4656, Selling 48.5776

• AUD (Australian Dollar): Buying 128.3304, Selling 128.6154

• CAD (Canadian Dollar): Buying 138.5583, Selling 138.8616

• CHF (Swiss Franc): Buying 193.5439, Selling 193.9692

• CNY (Chinese Yuan): Buying 27.9592, Selling 28.0184

• EUR (Euro): Buying 201.7314, Selling 202.2097

• GBP (British Pound): Buying 237.4963, Selling 238.0530

• JPY (Japanese Yen): Buying 1.5580, Selling 1.5615

• SAR (Saudi Riyal): Buying 47.3884, Selling 47.4982

• USD (United States Dollar): Buying 177.8933, Selling 178.3161

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 urged 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 23, 2021, is a crucial 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.