SBP issues customers exchange rates for October 14

SBP issues customers exchange rates for October 14

Karachi, October 14, 2021: The State Bank of Pakistan (SBP) has released the official exchange rates for Thursday, October 14, 2021.

These rates are derived from the weighted average rates provided by commercial banks. The SBP emphasized that the data is compiled and disseminated for informational purposes only.

Exchange rates serve as fundamental indicators for the global financial landscape, influencing international trade and financial transactions. The rates provided by the State Bank of Pakistan are crucial for businesses and individuals engaged in cross-border activities.

Here are the exchange rates for major currencies as of October 14, 2021:

• United States Dollar (USD):

• Buying: PKR 170.9521

• Selling: PKR 171.3154

• Euro (EUR):

• Buying: PKR 198.2643

• Selling: PKR 198.6786

• British Pound (GBP):

• Buying: PKR 233.8020

• Selling: PKR 234.2805

• Canadian Dollar (CAD):

• Buying: PKR 137.7231

• Selling: PKR 137.9951

• Australian Dollar (AUD):

• Buying: PKR 126.3657

• Selling: PKR 126.6153

• Swiss Franc (CHF):

• Buying: PKR 185.4171

• Selling: PKR 185.7934

• Chinese Yuan (CNY):

• Buying: PKR 26.5944

• Selling: PKR 26.6452

• Japanese Yen (JPY):

• Buying: PKR 1.5060

• Selling: PKR 1.5091

• Saudi Riyal (SAR):

• Buying: PKR 45.5889

• Selling: PKR 45.6805

• UAE Dirham (AED):

• Buying: PKR 46.5829

• Selling: PKR 46.6772

The SBP reiterated that these rates are indicative and are based on the 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 reference 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.