KARACHI – The State Bank of Pakistan (SBP) announced the latest exchange rates for customers on Tuesday, August 31, 2021, shedding light on the currency values based on the weighted average rates of commercial banks.
The central bank clarified that the data provided is compiled and disseminated for informational purposes only.
These exchange rates serve as estimates quoted by various commercial banks to their clients, and they play a pivotal role in facilitating international transactions. The indicative exchange rates, both for buying and selling, are crucial for businesses and individuals engaging in cross-border trade and finance.
The SBP emphasized that the rates are subject to change as per market conditions, and customers are advised to stay updated with the latest information. The central bank’s decision to release this data is part of its ongoing efforts to ensure transparency and provide stakeholders with the necessary information to make informed financial decisions.
Below are the exchange rates issued by the SBP on August 31, 2021:
• AED (United Arab Emirates Dirham):
• Buying: 45.2557
• Selling: 45.3507
• AUD (Australian Dollar):
• Buying: 121.8103
• Selling: 122.0620
• CAD (Canadian Dollar):
• Buying: 132.0463
• Selling: 132.3195
• CHF (Swiss Franc):
• Buying: 181.5778
• Selling: 181.9464
• CNY (Chinese Yuan):
• Buying: 25.7378
• Selling: 25.7900
• EUR (Euro):
• Buying: 196.4721
• Selling: 196.8914
• GBP (British Pound):
• Buying: 229.1321
• Selling: 229.6178
• JPY (Japanese Yen):
• Buying: 1.5119
• Selling: 1.5152
• SAR (Saudi Riyal):
• Buying: 44.2919
• Selling: 44.3836
• USD (United States Dollar):
• Buying: 166.0855
• Selling: 166.4488
These rates reflect the ongoing dynamics of the foreign exchange market and are instrumental for businesses engaged in international trade, investors, and individuals involved in currency exchange activities.
It’s important to note that the exchange rates provided by commercial banks may include a margin for profit or service charges. Customers are encouraged to check with their respective banks for any additional fees associated with currency transactions.
In conclusion, the State Bank of Pakistan’s release of exchange rates underscores its commitment to fostering a transparent and efficient financial system. As global economic landscapes continue to evolve, the accurate dissemination of exchange rate information becomes increasingly vital for businesses and individuals navigating the international financial arena.
