Karachi, October 12, 2021: The State Bank of Pakistan (SBP) has issued the official exchange rates for Tuesday, October 12, 2021.
These rates are established on the basis of the weighted average rates provided by commercial banks. The SBP emphasized that the data is compiled and disseminated exclusively for informational purposes.
Exchange rates play a crucial role in shaping the global economic landscape, serving as essential benchmarks for international trade and financial transactions. The rates provided by the State Bank of Pakistan are instrumental for businesses and individuals involved in cross-border activities.
Here are the exchange rates for major currencies as of October 12, 2021:
• United States Dollar (USD):
• Buying: PKR 170.9296
• Selling: PKR 171.2929
• Euro (EUR):
• Buying: PKR 197.6936
• Selling: PKR 198.1040
• British Pound (GBP):
• Buying: PKR 232.5363
• Selling: PKR 233.0090
• Canadian Dollar (CAD):
• Buying: PKR 136.9567
• Selling: PKR 137.2326
• Australian Dollar (AUD):
• Buying: PKR 125.6250
• Selling: PKR 125.8736
• Swiss Franc (CHF):
• Buying: PKR 184.3699
• Selling: PKR 184.7445
• Chinese Yuan (CNY):
• Buying: PKR 26.5296
• Selling: PKR 26.5804
• Japanese Yen (JPY):
• Buying: PKR 1.5098
• Selling: PKR 1.5129
• Saudi Riyal (SAR):
• Buying: PKR 45.5813
• Selling: PKR 45.6729
• UAE Dirham (AED):
• Buying: PKR 46.5758
• Selling: PKR 46.6701
The SBP reiterated that these rates are indicative and are compiled based on information provided by commercial banks. Banks quote these estimates to their clients, reflecting the current market conditions.
Customers are advised to consult with their respective banks for the most accurate and up-to-date exchange rates before engaging in any financial transactions. The dynamic nature of the foreign exchange market means that rates can fluctuate based on various factors, including economic indicators and geopolitical events.
As businesses and individuals navigate the complexities of the international financial landscape, the exchange rates provided by the State Bank of Pakistan serve as a valuable tool for making informed decisions and conducting transactions in the global marketplace. The SBP’s commitment to transparency contributes to a stable and well-informed financial environment, fostering confidence in the broader economic landscape.
