SBP customers’ exchange rates on November 30, 2021

SBP customers’ exchange rates on November 30, 2021

KARACHI, November 30, 2021 – The State Bank of Pakistan (SBP) has released the official exchange rates for November 30, 2021, providing customers and businesses with crucial information on currency values.

The rates are determined based on the weighted average rates of commercial banks, reflecting the ongoing dynamics of the global financial markets.

In a statement issued on Tuesday, the SBP clarified that the exchange rates are compiled and disseminated for informational purposes only. These rates are estimates quoted by various commercial banks to their clients, allowing businesses and individuals to make informed decisions in their financial transactions.

Commercial banks play a pivotal role in facilitating currency exchange transactions, and the indicative rates provided by these institutions are instrumental in guiding customers in their buying and selling decisions. The rates presented by the SBP are reflective of the prevailing market conditions and the performance of major currencies against the Pakistani Rupee.

Here are the exchange rates issued by the State Bank of Pakistan for November 30, 2021:

CURRENCY BUYING SELLING

• AED 47.9329 48.0436

• AUD 125.1450 125.4290

• CAD 137.6470 137.9579

• CHF 190.9361 191.3675

• CNY 27.6399 27.7002

• EUR 199.0189 199.4851

• GBP 234.2974 234.8504

• JPY 1.5541 1.5578

• SAR 46.9024 47.0098

• USD 175.9364 176.3592

The provided rates encompass a range of major international currencies, including the UAE Dirham (AED), Australian Dollar (AUD), Canadian Dollar (CAD), Swiss Franc (CHF), Chinese Yuan (CNY), Euro (EUR), British Pound (GBP), Japanese Yen (JPY), Saudi Riyal (SAR), and the United States Dollar (USD).

It is essential for businesses engaged in international trade, travelers, and financial institutions to stay abreast of these exchange rates, as they directly impact the cost of goods, services, and investments denominated in foreign currencies.

The SBP emphasized that these rates are subject to change based on market fluctuations, geopolitical events, and economic developments globally. Customers are advised to consult with their respective banks for the most up-to-date and accurate exchange rates before engaging in any financial transactions.

In conclusion, the release of exchange rates by the State Bank of Pakistan serves as a valuable tool for market participants, fostering transparency and informed decision-making in the realm of international finance. The provided rates for November 30, 2021, offer insights into the relative strength and value of major currencies, guiding businesses and individuals in navigating the complex landscape of global currency markets.