KARACHI, August 24, 2021: The State Bank of Pakistan (SBP) has released the most recent exchange rates for customers on Tuesday, August 24, 2021.
These rates, calculated based on the weighted average rates of commercial banks, play a crucial role in shaping international transactions and financial strategies.
The SBP clarified 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, acting as a valuable reference for businesses and individuals engaged in cross-border transactions.
Commercial banks, by providing indicative exchange rates for both buying and selling transactions, play a vital role in facilitating seamless commercial transactions for their customers. The rates issued by the SBP serve as a benchmark for the market, influencing the decision-making process of businesses and individuals in the realm of international trade.
The exchange rates issued by the SBP on August 24, 2021, are as follows:
• AED (United Arab Emirates Dirham):
• Buying: 44.6757
• Selling: 44.7700
• AUD (Australian Dollar):
• Buying: 120.3306
• Selling: 120.5845
• CAD (Canadian Dollar):
• Buying: 130.7730
• Selling: 131.0412
• CHF (Swiss Franc):
• Buying: 179.0488
• Selling: 179.4172
• CNY (Chinese Yuan):
• Buying: 25.3501
• Selling: 25.4005
• EUR (Euro):
• Buying: 193.3473
• Selling: 193.7668
• GBP (British Pound):
• Buying: 227.1004
• Selling: 227.5809
• JPY (Japanese Yen):
• Buying: 1.4986
• Selling: 1.5019
• SAR (Saudi Riyal):
• Buying: 43.7273
• Selling: 43.8182
• USD (United States Dollar):
• Buying: 163.9552
• Selling: 164.3185
These rates reflect the dynamic nature of the foreign exchange market, influenced by global economic factors. Businesses and individuals are advised to stay informed about these rates, as they are subject to change based on market dynamics.
It is crucial 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 essential 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.
