Karachi, Pakistan – The State Bank of Pakistan (SBP) issued the official exchange rates for January 26, 2022, on Wednesday, providing customers with valuable insights based on the weighted average rates of commercial banks.
These rates are instrumental for individuals and businesses involved in international trade or currency conversions.
According to the SBP, the data is compiled and disseminated for informational purposes only. The exchange rates represent estimates quoted by various commercial banks to their clients, serving as benchmarks for currency transactions in the market.
Commercial banks, acting as intermediaries in the foreign exchange market, play a significant role 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 January 26, 2022:
• AED (United Arab Emirates Dirham): Buying 48.1639, Selling 48.2751
• AUD (Australian Dollar): Buying 126.5515, Selling 126.8335
• CAD (Canadian Dollar): Buying 140.2365, Selling 140.5645
• CHF (Swiss Franc): Buying 192.7173, Selling 193.1676
• CNY (Chinese Yuan): Buying 27.9909, Selling 28.0515
• EUR (Euro): Buying 199.8815, Selling 200.3442
• GBP (British Pound): Buying 238.7994, Selling 239.3496
• JPY (Japanese Yen): Buying 1.5523, Selling 1.5559
• SAR (Saudi Riyal): Buying 47.1376, Selling 47.2444
• USD (United States Dollar): Buying 176.7841, Selling 177.2069
These rates reflect the exchange values provided by commercial banks to their customers for buying and selling various currencies. It is crucial for customers to stay informed about these rates, given their potential to fluctuate based on market dynamics, geopolitical events, and economic indicators.
The SBP reiterated that the information released is for reference purposes only, and customers are advised 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 January 26, 2022, serves as a vital resource for customers navigating the intricacies of international transactions. Given the dynamic nature of global markets, staying abreast of currency exchange rates remains crucial for making well-informed financial decisions.
