We value your time, money, and efforts. That’s why, we have developed a detailed procedure to list only the most up-to-date rates and prices on our website.
Here is how we do things on our end!
How We Source and Verify Ratesvernment Sources
State Bank of Pakistan (SBP)
The State Bank of Pakistan (SBP) is our primary source for exchange rates. We extract daily exchange rate data directly from their official website. Here’s how we ensure accuracy:
- Currency Pairs: We track major currency pairs (e.g., USD/PKR, EUR/PKR) and less common ones.
- Frequency: Our automated scripts fetch the latest rates at regular intervals (e.g., every hour).
- Historical Data: We maintain historical exchange rate data for trend analysis.
Commodity Exchanges
We rely on official commodity exchange websites for commodities like gold, silver, and oil. These platforms provide real-time prices. Key practices include:
- Commodity Market Updates: We monitor live prices from commodity exchanges.
- Quality Control: We cross-check data across different exchanges to identify discrepancies.
- Commodity-Specific Sources: Each commodity has its exchange (e.g., Pakistan Mercantile Exchange for gold). We verify rates from these specialized sources.
Google Maps and Local Listings
Business Listings
To ensure accurate business rates, we leverage Google Maps and other local listing services. Here’s our process:
- Business Search: We search for specific businesses (e.g., car washes, driving schools, veterinary clinics) on Google Maps.
- Pricing Details: Listings often include pricing information. We verify and update this data regularly.
- User Reviews: User reviews provide insights into the consistency of rates. Positive or negative feedback influences our listings.
Regular Updates
Stale information can mislead users. We take the following steps to maintain up-to-date content:
- Scheduled Checks: Our automated scripts run scheduled checks on all data sources. If there are rate changes, we promptly update our database.
- User Contributions: Users can submit rate updates through our platform. Our team verifies these submissions before incorporating them into our listings.
Quality Assurance
We maintain a high standard of accuracy through rigorous quality control:
- Cross-Referencing: We cross-reference data from multiple sources. If there’s a discrepancy, we investigate further.
- Human Review: Our team manually reviews critical data points. This ensures errors or outliers are promptly corrected.
Transparency
Transparency builds trust with users. Here’s how we achieve it:
- Source Attribution: Whenever we display a rate, we mention the source (e.g., “SBP exchange rate as of [date]”).
- Last Updated Timestamp: Users can see when the information was last updated.
Apart from the methods mentioned above, consider these strategies:
- Crowdsourcing: Allow users to report rate changes directly on your website. Community contributions enhance accuracy.
- API Integration: Explore APIs provided by financial institutions, commodity exchanges, and other relevant platforms. These APIs offer real-time data that you can integrate seamlessly.
We Regularly audit our processes and adapt as needed to maintain the highest level of reliability for our users.