Karachi, October 22, 2021: The State Bank of Pakistan (SBP) has released the official exchange rates for Friday, October 22, 2021.
These rates are formulated based on the weighted average rates provided by commercial banks. The SBP emphasized that the data is compiled and disseminated solely for informational purposes.
Exchange rates play a pivotal role in the global economic landscape, influencing international trade and financial transactions. The rates provided by the State Bank of Pakistan serve as crucial indicators for businesses and individuals engaged in cross-border activities.
Here are the exchange rates for major currencies as of October 22, 2021:
• United States Dollar (USD):
• Buying: PKR 174.0972
• Selling: PKR 174.4671
• Euro (EUR):
• Buying: PKR 202.4948
• Selling: PKR 202.9196
• British Pound (GBP):
• Buying: PKR 240.1779
• Selling: PKR 240.6668
• Canadian Dollar (CAD):
• Buying: PKR 140.9763
• Selling: PKR 141.2553
• Australian Dollar (AUD):
• Buying: PKR 130.2713
• Selling: PKR 130.5434
• Swiss Franc (CHF):
• Buying: PKR 189.7019
• Selling: PKR 190.0891
• Chinese Yuan (CNY):
• Buying: PKR 27.2530
• Selling: PKR 27.3049
• Japanese Yen (JPY):
• Buying: PKR 1.5273
• Selling: PKR 1.5305
• Saudi Riyal (SAR):
• Buying: PKR 46.4230
• Selling: PKR 46.5156
• UAE Dirham (AED):
• Buying: PKR 47.4307
• Selling: PKR 47.5269
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.