Customers’ exchange rates on January 28, 2022

Customers’ exchange rates on January 28, 2022

Karachi, Pakistan – The State Bank of Pakistan (SBP) announced the official exchange rates for January 28, 2022, based on the weighted average rates of commercial banks.

The release, made on Friday, provides customers with the necessary information for currency transactions.

According to the SBP, the data is compiled and disseminated solely for informational purposes. These exchange rates are estimations quoted by various commercial banks to their clients and serve as a reference for individuals and businesses engaging in international trade or currency conversions.

Commercial banks play a crucial role in facilitating currency transactions, and the indicative exchange rates provided by these banks are essential for customers engaging in commercial transactions. The rates offered by banks can 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 28, 2022:

• AED (United Arab Emirates Dirham): Buying 48.1186, Selling 48.2297

• AUD (Australian Dollar): Buying 124.2992, Selling 124.5830

• CAD (Canadian Dollar): Buying 138.8570, Selling 139.1686

• CHF (Swiss Franc): Buying 189.9472, Selling 190.3953

• CNY (Chinese Yuan): Buying 27.8158, Selling 27.8757

• EUR (Euro): Buying 197.0184, Selling 197.4855

• GBP (British Pound): Buying 236.8651, Selling 237.4252

• JPY (Japanese Yen): Buying 1.5306, Selling 1.5341

• SAR (Saudi Riyal): Buying 47.0834, Selling 47.1897

• USD (United States Dollar): Buying 176.6171, Selling 177.0399

These rates reflect the exchange values that commercial banks provide to their customers for buying and selling various currencies. It’s important to note that exchange rates can fluctuate based on market conditions, geopolitical events, and economic indicators.

The SBP emphasized that the information provided is for reference purposes only, and customers should check with their respective banks for the most accurate and up-to-date rates before conducting any currency transactions.

Currency exchange rates play a significant role in the global economy, affecting trade, investment, and financial markets. Businesses and individuals are advised to stay informed about these rates to make informed decisions and manage currency-related risks effectively.

In conclusion, the State Bank of Pakistan’s release of exchange rates for January 28, 2022, serves as a valuable resource for customers engaging in international transactions. As the global economic landscape continues to evolve, staying informed about currency exchange rates remains crucial for businesses and individuals alike.