Karachi, October 29, 2021: The State Bank of Pakistan (SBP) has published the official exchange rates for customers on this Friday, October 29, 2021.
These rates are based on the weighted average rates provided by various commercial banks. The SBP clarified that the data is compiled and disseminated for informational purposes only.
Commercial banks play a crucial role in determining these exchange rates, providing their indicative values for commercial transactions with customers. These rates are estimates quoted by the banks to their clients, reflecting the current market conditions.
Here are the exchange rates for major currencies as of October 29, 2021:
• United States Dollar (USD):
• Buying: PKR 171.5723
• Selling: PKR 171.9423
• Euro (EUR):
• Buying: PKR 200.2317
• Selling: PKR 200.6574
• British Pound (GBP):
• Buying: PKR 236.5921
• Selling: PKR 237.0819
• Canadian Dollar (CAD):
• Buying: PKR 138.8623
• Selling: PKR 139.1466
• Australian Dollar (AUD):
• Buying: PKR 129.4258
• Selling: PKR 129.6898
• Swiss Franc (CHF):
• Buying: PKR 187.1362
• Selling: PKR 187.5229
• Chinese Yuan (CNY):
• Buying: PKR 26.8802
• Selling: PKR 26.9338
• Japanese Yen (JPY):
• Buying: PKR 1.5104
• Selling: PKR 1.5136
• Saudi Riyal (SAR):
• Buying: PKR 45.7462
• Selling: PKR 45.8396
• UAE Dirham (AED):
• Buying: PKR 46.7424
• Selling: PKR 46.8395
The exchange rates provided by the State Bank of Pakistan serve as a reference point for businesses and individuals engaged in international trade and financial transactions. It is important to note that these rates are subject to fluctuations based on the dynamic nature of the foreign exchange market.
The SBP emphasized that the rates published are indicative and may vary slightly depending on the specific policies and practices of individual banks. Customers are advised to check with their respective banks for the most accurate and up-to-date exchange rates before engaging in any financial transactions.
Exchange rates play a critical role in the global economy, impacting trade, investment, and inflation rates. The State Bank of Pakistan remains committed to ensuring transparency in the foreign exchange market, providing timely and reliable information to the public.
In conclusion, as businesses and individuals navigate the complexities of the international financial landscape, the exchange rates released by the State Bank of Pakistan serve as a valuable tool for making informed decisions and conducting transactions in the global marketplace.
