SBP issues customers exchange rates for October 20

SBP issues customers exchange rates for October 20

Karachi, October 20, 2021: The State Bank of Pakistan (SBP) has released the official exchange rates for Wednesday, October 20, 2021.

These rates are determined based on the weighted average rates provided by commercial banks. The SBP reiterated that the data is compiled and disseminated exclusively for informational purposes.

Exchange rates are pivotal in shaping the global economic landscape, serving as key benchmarks for international trade and financial transactions. The rates provided by the State Bank of Pakistan are instrumental in facilitating transparent and efficient cross-border transactions.

Here are the exchange rates for major currencies as of October 20, 2021:

• United States Dollar (USD):

• Buying: PKR 172.9566

• Selling: PKR 173.3265

• Euro (EUR):

• Buying: PKR 201.4227

• Selling: PKR 201.8445

• British Pound (GBP):

• Buying: PKR 238.6126

• Selling: PKR 239.1113

• Canadian Dollar (CAD):

• Buying: PKR 140.0790

• Selling: PKR 140.3580

• Australian Dollar (AUD):

• Buying: PKR 129.5591

• Selling: PKR 129.8218

• Swiss Franc (CHF):

• Buying: PKR 187.2168

• Selling: PKR 187.5901

• Chinese Yuan (CNY):

• Buying: PKR 27.1027

• Selling: PKR 27.1542

• Japanese Yen (JPY):

• Buying: PKR 1.5103

• Selling: PKR 1.5135

• Saudi Riyal (SAR):

• Buying: PKR 46.1196

• Selling: PKR 46.2129

• UAE Dirham (AED):

• Buying: PKR 47.1194

• Selling: PKR 47.2164

The SBP emphasized 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.