KARACHI: On Wednesday, August 11, 2021, the State Bank of Pakistan (SBP) released the latest exchange rates for customers based on the weighted average rates of commercial banks.
The data, compiled and disseminated by the SBP, serves as an informational reference for individuals and businesses engaged in international transactions.
The exchange rates provided by the SBP are indicative and represent estimates quoted by various commercial banks to their clients. These rates play a crucial role in facilitating commercial transactions, determining the value of one currency against another. The SBP emphasized that the information is intended for informational purposes only and may be subject to fluctuations based on market conditions.
The following are the exchange rates for major currencies against the Pakistani Rupee, as per the SBP’s announcement on August 11, 2021:
Currency Buying Rate Selling Rate
• AED 44.6464 44.7406
• AUD 120.2186 120.4696
• CAD 130.7834 131.0573
• CHF 177.4982 177.8736
• CNY 25.3102 25.3607
• EUR 191.9773 192.3930
• GBP 226.5409 227.0304
• JPY 1.4800 1.4833
• SAR 43.6976 43.7885
• USD 163.8407 164.2040
These rates serve as benchmarks for commercial banks, allowing them to provide indicative exchange rates for their clients engaged in various commercial transactions. Individuals and businesses alike can use this information to assess the value of their currencies in the global market and make informed decisions regarding international trade and finance.
It’s important to note that exchange rates are influenced by various factors, including economic indicators, geopolitical events, and market demand. As such, these rates are subject to change, and market participants are advised to stay updated with the latest information provided by the SBP and other relevant financial institutions.
The SBP continues to play a pivotal role in regulating and maintaining stability in the foreign exchange market. By providing transparent and up-to-date exchange rate information, the central bank contributes to the overall economic well-being of the country and ensures a smooth flow of international trade and financial transactions.
As businesses and individuals navigate the complexities of the global economy, having access to accurate and timely exchange rate information is crucial. The SBP’s commitment to transparency in providing these rates underscores its dedication to fostering a resilient and dynamic economic environment in Pakistan.
