Pkrevenue.com

Day: July 23, 2021

  • KIBOR rates on July 23, 2021

    KIBOR rates on July 23, 2021

    The State Bank of Pakistan (SBP) has released the Karachi Interbank Offered Rates (KIBOR) for various tenors on Friday, July 23, 2021, providing a crucial snapshot of the prevailing borrowing costs in the interbank market.

    KIBOR serves as a benchmark interest rate that signifies the average interest rates at which banks in Pakistan offer unsecured funds to one another in the interbank market. The rates announced by the SBP on July 23, 2021, are as follows:

     TenorBidOffer
    1 – Week6.947.44
    2 – Week6.977.47
    1 – Month7.027.52
    3 – Month7.137.38
    6 – Month7.347.59
    9 – Month7.447.94
    1 – Year7.538.03

    These rates provide a snapshot of the current cost of borrowing for different tenors in the interbank market. Financial institutions, businesses, and investors use KIBOR as a crucial reference point to assess prevailing market interest rates. The rates can significantly impact the pricing of various financial products, such as loans and deposits.

    The transparency offered by the SBP in releasing these rates aligns with its commitment to maintaining openness in the financial markets and providing essential information for economic analysis.

    Market analysts are expected to closely scrutinize these rates to gain insights into the prevailing economic conditions and make informed decisions. The KIBOR rates released by the SBP offer valuable data for financial planning and risk management.

    It is essential to note that the rates mentioned represent bid and offer rates for each tenor and are provided in percentage points. The SBP’s commitment to transparency is highlighted through the release of these rates, allowing individuals, businesses, and financial institutions to make well-informed financial decisions.

    Interested parties seeking further details are encouraged to visit the State Bank of Pakistan’s official website or reach out to relevant authorities. However, it is crucial to acknowledge that these rates are subject to change based on market conditions, and individuals and institutions are advised to verify the latest rates before making any financial decisions.

    The SBP’s dedication to timely rate disclosures ensures that stakeholders can access accurate and up-to-date information for effective financial planning and decision-making.

  • Stocks end down by 80 points in lackluster trading

    Stocks end down by 80 points in lackluster trading

    KARACHI: The stock market ended down by 80 points on Friday due to lackluster trading activity. The lackluster activity was because of market opened on the third day of Eid ul Adha.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,793 points. The market closed at 47,873 points on July 19, 2021.

    The market was remained closed from July 20 – 22, 2021 because of Eid ul Adha.

    Analysts at Topline Securities said that lackluster activity was observed at the exchange.

    The index traded between its intraday high of 73 points and intraday low of 187 points. It finally closed at 47,793 level.

    This lackluster activity can be attributed to higher than expected current account deficit.

    The current account recorded at deficit of US$1.644 billion in June 2021. The lackluster activity was also due to lack of interest by investors amid third day of Eid ul Adha.

    Major contribution to the index came from SNGP, SYS, HUBC, LUCK and FFC. These stocks cumulatively contributed 68 points to the index. On the other hand ENGRO, MLCF, PSO, TRG and PSX weighed down on the index by 50 points.

    Today`s traded volume and value stood at 314 million shares and Rs.11 billion, respectively.

    BYCO was today`s volume leader with 34 million shares (apart from NDM).

  • Pakistan’s foreign exchange reserves increase to $25.128 billion

    Pakistan’s foreign exchange reserves increase to $25.128 billion

    KARACHI: Pakistan’s foreign exchange reserves have increased to $25.128 billion by week ended July 16, 2021.

    The State Bank of Pakistan (SBP) on Friday said the weekly reserves have increased by $816 million.

    The country’s foreign exchange reserves were at $24.312 billion a week ago.

    The official reserves of the SBP increased by $845 million to $18.051 billion by week ended July 16, 2021. During the week the SBP received proceeds of $1.041 billion against Pakistan Euro Bonds. The official reserves were at $17.206 billion a week ago.

    The reserves held by commercial banks fell by $29 million to $7.077 billion by week ended July 16, 2021. The commercial banks had foreign exchange reserves of $7.106 billion by week ended July 9, 2021.

  • FBR transfers BS-20 IRS officers

    FBR transfers BS-20 IRS officers

    In a recent development, the Federal Board of Revenue (FBR) has announced significant transfers and postings affecting key officers within the Inland Revenue Service (IRS).

    (more…)
  • SBP issues customers exchange rates for July 23

    SBP issues customers exchange rates for July 23

    KARACHI: The State Bank of Pakistan (SBP) on Friday issued customers’ exchange rates. The exchange rate is on the basis of weighted average rates of commercial banks.

    The SBP said the data compiled and disseminated for information only.

    These exchange rates are estimates that quoted by various commercial banks to their clients.

    The banks provide their indicative exchange rates for commercial transactions with customers.

    CURRENCYBUYINGSELLING
    AED44.178544.2727
    AUD119.5072119.7599
    CAD128.9981129.2658
    CHF176.2356176.6018
    CNY25.084025.1346
    EUR190.8872191.3032
    GBP223.0152223.4961
    JPY1.47011.4734
    SAR43.235543.3261
    USD162.1309162.4942
  • Rupee depreciates by 84 paisas in interbank

    Rupee depreciates by 84 paisas in interbank

    KARACHI: The Pak Rupee ended down by 84 paisas against the dollar on Friday. The local currency fell due to higher demand of the foreign currency after Eid holidays.

    The rupee closed at Rs162.32 to the dollar in interbank foreign exchange market. The local unit previously closed at Rs161.48 in last trading on July 19, 2021.

    The market opened after three holidays. It observed holidays from July 20, 2021 to July 22, 2021 on account of Eid ul Adha.

    The experts said the rupee fell to nine months low against the dollar.  The rupee lost value around Rs4.78 against the dollar since July 01, 2021.

  • Pak Rupee to Saudi Riyal on July 23

    Pak Rupee to Saudi Riyal on July 23

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on July 23, 2021:

    Buying: Rs 42.00 to the Saudi Riyal

    Selling: Rs 42.50 to the Saudi Riyal

    We update rates hourly so we can offer you the best SAR to PKR.

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Pak Rupee to UAE Dirham on July 23

    Pak Rupee to UAE Dirham on July 23

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on July 23, 2021:

    Buying: Rs 43.35 to the UAE Dirham

    Selling: Rs 43.85 to the UAE Dirham

    We update rates hourly so we can offer you the best AED to PKR.

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Pak Rupee to Euro on July 23

    Pak Rupee to Euro on July 23

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on July 23, 2021:

    Buying: Rs 186 to the Euro

    Selling: Rs 188 to the Euro

    We update rates hourly so we can offer you the best EUR to PKR.

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Pak Rupee to UK Pound Sterling on July 23

    Pak Rupee to UK Pound Sterling on July 23

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on July 23, 2021:

    Buying: Rs 219 to the UK Pound Sterling

    Selling: Rs 222 to the UK Pound Sterling

    We update rates hourly so we can offer you the best GBP to PKR.

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.