SBP issues customers exchange rates for August 16

SBP issues customers exchange rates for August 16

KARACHI, August 16, 2021: The State Bank of Pakistan (SBP) has published the latest exchange rates for customers on Monday, August 16, 2021.

These rates, based on the weighted average rates of commercial banks, are crucial for guiding international transactions and financial decisions.

The SBP reiterated that the data provided is compiled and disseminated solely for informational purposes, aligning with its commitment to transparency in the financial sector. These exchange rates represent estimates quoted by various commercial banks to their clients, serving as essential references for businesses and individuals involved in cross-border transactions.

Commercial banks play a pivotal role by providing indicative exchange rates for both buying and selling transactions, meeting the diverse needs of their customers engaged in commercial dealings. The rates released by the SBP act as a benchmark for the market, facilitating transparent and efficient transactions in the global financial landscape.

The exchange rates issued by the SBP on August 16, 2021, are as follows:

• AED (United Arab Emirates Dirham):

• Buying: 44.6757

• Selling: 44.7700

• AUD (Australian Dollar):

• Buying: 120.3306

• Selling: 120.5845

• CAD (Canadian Dollar):

• Buying: 130.7730

• Selling: 131.0412

• CHF (Swiss Franc):

• Buying: 179.0488

• Selling: 179.4172

• CNY (Chinese Yuan):

• Buying: 25.3501

• Selling: 25.4005

• EUR (Euro):

• Buying: 193.3473

• Selling: 193.7668

• GBP (British Pound):

• Buying: 227.1004

• Selling: 227.5809

• JPY (Japanese Yen):

• Buying: 1.4986

• Selling: 1.5019

• SAR (Saudi Riyal):

• Buying: 43.7273

• Selling: 43.8182

• USD (United States Dollar):

• Buying: 163.9552

• Selling: 164.3185

These rates reflect the dynamic nature of the foreign exchange market, influenced by various economic factors. Businesses and individuals are encouraged to stay informed about these rates, as they are subject to change based on market dynamics.

Customers should be aware that the exchange rates provided by commercial banks may include additional margins or service charges. Verifying these details with respective banks is essential for accurate financial planning and decision-making.

In conclusion, the State Bank of Pakistan’s release of exchange rates underscores its commitment to transparency and providing stakeholders with essential financial information. As businesses and individuals navigate the complexities of international trade and finance, these exchange rates offer valuable insights for making informed decisions.