KARACHI, August 23, 2021: The State Bank of Pakistan (SBP) has unveiled the latest exchange rates for customers on Monday, August 23, 2021.
These rates, derived from the weighted average rates of commercial banks, serve as a crucial benchmark for international transactions and financial decision-making.
The SBP emphasized that the data provided is compiled and disseminated exclusively for informational purposes, aligning with its commitment to transparency in the financial sector. These exchange rates represent estimates quoted by various commercial banks to their clients, offering valuable insights for businesses and individuals involved in cross-border transactions.
Commercial banks play a key role by providing indicative exchange rates for both buying and selling transactions, catering to the diverse needs of their customers engaged in commercial dealings. The rates issued by the SBP are instrumental in facilitating transparent and efficient transactions in the global financial market.
The exchange rates issued by the SBP on August 23, 2021, are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 44.7111
• Selling: 44.8054
• AUD (Australian Dollar):
• Buying: 117.4872
• Selling: 117.7309
• CAD (Canadian Dollar):
• Buying: 128.5673
• Selling: 128.8355
• CHF (Swiss Franc):
• Buying: 179.0299
• Selling: 179.4074
• CNY (Chinese Yuan):
• Buying: 25.3058
• Selling: 25.3562
• EUR (Euro):
• Buying: 192.2949
• Selling: 192.7040
• GBP (British Pound):
• Buying: 224.0851
• Selling: 224.5678
• JPY (Japanese Yen):
• Buying: 1.4925
• Selling: 1.4957
• SAR (Saudi Riyal):
• Buying: 43.7598
• Selling: 43.8508
• USD (United States Dollar):
• Buying: 164.0817
• Selling: 164.4450
These rates reflect the ever-changing dynamics of the foreign exchange market, influenced by global economic factors. Businesses and individuals are encouraged to stay informed about these rates as they are subject to change based on market dynamics.
It is essential for customers to be aware that the exchange rates provided by commercial banks may include additional margins or service charges. Verifying these details with respective banks is crucial for accurate financial planning and decision-making.
In conclusion, the State Bank of Pakistan’s release of exchange rates underscores its commitment to transparency and providing stakeholders with essential financial information. As businesses and individuals navigate the complexities of international trade and finance, these exchange rates offer valuable insights for making informed decisions.
