Karachi, Pakistan – On Friday, the State Bank of Pakistan (SBP) released the official exchange rates for December 31, 2021, offering customers essential information based on the weighted average rates of commercial banks.
This disclosure serves as a critical reference for individuals and businesses involved in international trade or currency conversions.
As stated by 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 31, 2021:
• AED (United Arab Emirates Dirham): Buying 48.0342, Selling 48.1452
• AUD (Australian Dollar): Buying 127.9796, Selling 128.2697
• CAD (Canadian Dollar): Buying 138.4900, Selling 138.8025
• CHF (Swiss Franc): Buying 192.8544, Selling 193.3009
• CNY (Chinese Yuan): Buying 27.6964, Selling 27.7563
• EUR (Euro): Buying 199.5202, Selling 199.9946
• GBP (British Pound): Buying 238.0012, Selling 238.5623
• JPY (Japanese Yen): Buying 1.5316, Selling 1.5352
• SAR (Saudi Riyal): Buying 46.9673, Selling 47.0764
• USD (United States Dollar): Buying 176.3077, Selling 176.7305
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 31, 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.
