Karachi – The State Bank of Pakistan (SBP) released the latest exchange rates for customers on Monday, shedding light on the currency landscape for January 31, 2022.
These rates are derived from the weighted averages reported by commercial banks across the nation.
According to the SBP, the data is compiled and disseminated purely for informational purposes. The disclosed exchange rates represent estimates quoted by various commercial banks to their clients. It is crucial to understand that these rates are indicative and are subject to change based on market fluctuations.
Commercial banks play a pivotal role in the foreign exchange market, acting as intermediaries for individuals and businesses engaged in international transactions. The indicative exchange rates provided by banks serve as a reference point for customers involved in commercial dealings, including importers, exporters, and travelers.
Key Exchange Rates:
• AED (United Arab Emirates Dirham):
• Buying: 48.0959
• Selling: 48.2079
• AUD (Australian Dollar):
• Buying: 123.9624
• Selling: 124.2395
• CAD (Canadian Dollar):
• Buying: 138.6567
• Selling: 138.9684
• CHF (Swiss Franc):
• Buying: 189.5739
• Selling: 190.0065
• CNY (Chinese Yuan):
• Buying: 27.7701
• Selling: 27.8300
• EUR (Euro):
• Buying: 197.1160
• Selling: 197.5859
• GBP (British Pound Sterling):
• Buying: 236.9042
• Selling: 237.4531
• JPY (Japanese Yen):
• Buying: 1.5286
• Selling: 1.5321
• SAR (Saudi Riyal):
• Buying: 47.0579
• Selling: 47.1644
• USD (United States Dollar):
• Buying: 176.5309
• Selling: 176.9537
It’s essential for customers to recognize that the provided rates are indicative and may vary slightly during actual transactions. The dynamic nature of the foreign exchange market is influenced by various factors, including economic conditions, geopolitical events, and market sentiment.
The SBP encourages customers to contact their respective banks for real-time and precise exchange rates as per their specific requirements. Staying informed about currency fluctuations is crucial for businesses and individuals engaging in international trade or travel to make well-informed financial decisions.
As the SBP continues to foster transparency in financial markets, individuals and businesses are urged to monitor exchange rate updates and leverage this information for sound financial planning in an ever-changing global economy.
