Karachi, Pakistan – On Thursday, the State Bank of Pakistan (SBP) unveiled the official exchange rates for January 27, 2022, providing customers with crucial information based on the weighted average rates of commercial banks.
The release serves as a reference for individuals and businesses engaging in international trade or currency conversions.
According to the SBP, the data is compiled and disseminated solely for informational purposes. These exchange rates represent estimates quoted by various commercial banks to their clients, acting as benchmarks for currency transactions in the market.
Commercial banks, acting as intermediaries in the foreign exchange market, play a pivotal role by offering indicative exchange rates for commercial transactions with customers. The rates provided by these banks influence the cost of goods and services in the international market, impacting businesses and consumers.
Here are the buying and selling rates for selected currencies as of January 27, 2022:
• AED (United Arab Emirates Dirham): Buying 48.1610, Selling 48.2730
• AUD (Australian Dollar): Buying 125.0746, Selling 125.3503
• CAD (Canadian Dollar): Buying 139.0279, Selling 139.3414
• CHF (Swiss Franc): Buying 191.1859, Selling 191.6251
• CNY (Chinese Yuan): Buying 27.8823, Selling 27.9418
• EUR (Euro): Buying 198.3870, Selling 198.8591
• GBP (British Pound): Buying 237.4399, Selling 237.9991
• JPY (Japanese Yen): Buying 1.5415, Selling 1.5451
• SAR (Saudi Riyal): Buying 47.1246, Selling 47.2323
• USD (United States Dollar): Buying 176.7744, Selling 177.1972
These rates reflect the exchange values provided by commercial banks to their customers for buying and selling various currencies. It is essential for customers 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 advised to verify the rates with their respective banks before engaging in any currency transactions.
As currency exchange rates continue to play a vital 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 summary, the State Bank of Pakistan’s release of exchange rates for January 27, 2022, serves as a valuable tool for customers navigating the complexities of international transactions. With the dynamic nature of global markets, staying abreast of currency exchange rates remains imperative for making well-informed financial decisions.
