Customers’ exchange rates on December 28, 2021

Customers’ exchange rates on December 28, 2021

Karachi, Pakistan – On Tuesday, the State Bank of Pakistan (SBP) released the official exchange rates for December 28, 2021, providing customers with crucial information based on the weighted average rates of commercial banks.

This announcement is a significant reference 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 pivotal 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 28, 2021:

• AED (United Arab Emirates Dirham): Buying 48.4830, Selling 48.5950

• AUD (Australian Dollar): Buying 128.8753, Selling 129.1571

• CAD (Canadian Dollar): Buying 139.1468, Selling 139.4504

• CHF (Swiss Franc): Buying 194.0042, Selling 194.4301

• CNY (Chinese Yuan): Buying 27.9666, Selling 28.0262

• EUR (Euro): Buying 201.5971, Selling 202.0647

• GBP (British Pound): Buying 239.0805, Selling 239.6307

• JPY (Japanese Yen): Buying 1.5491, Selling 1.5527

• SAR (Saudi Riyal): Buying 47.3908, Selling 47.4989

• USD (United States Dollar): Buying 177.9538, Selling 178.3766

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 28, 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.