Karachi, September 08, 2021 – The State Bank of Pakistan (SBP) has issued the exchange rates for customers on Wednesday, September 08, 2021.
(more…)Day: September 8, 2021
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Pak Rupee to Saudi Riyal on September 8, 2021
KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on September 8, 2021:
Buying: Rs 44.00 to the Saudi Riyal
Selling: Rs 44.50 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.
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Pak Rupee to UAE Dirham on September 8, 2021
KARACHI, September 8, 2021 – The exchange rates between the UAE Dirham (AED) and the Pakistani Rupee (PKR) continued to display stability in the open market on September 8, 2021, with the buying rate at Rs 45.10 and the selling rate at Rs 45.60.
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Pak Rupee to Euro on September 8, 2021
KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on September 8, 2021:
Buying: Rs 196.10 to the Euro
Selling: Rs 198.10 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.
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Pak Rupee to UK Pound on September 8, 2021
KARACHI, September 8, 2021 – The exchange rates between the UK Pound Sterling (GBP) and the Pakistani Rupee (PKR) continued to exhibit stability in the open market September 8, 2021, with the buying rate at Rs 228.60 and the selling rate at Rs 231.10.
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Pak Rupee to US Dollar on September 8, 2021
Karachi, September 8, 2021 – The open market in Karachi continues to exhibit stability in the exchange rates of the US Dollar (USD) to Pakistani Rupee (PKR) on September 8, 2021.
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Foreign exchange rates on September 8, 2021
KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 8, 2021:
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MSCI to reclassify Pakistan Indexes to frontier market
New York: MSCI Inc. (NYSE: MSCI) announced on Tuesday that it will reclassify the MSCI Pakistan Indexes from Emerging Markets to Frontier Markets.
The MSCI is a leading provider of critical decision support tools and services for the global investment community.
According to a statement, this conclusion follows feedback received from market participants from its recent Consultation on a Market Reclassification Proposal for the MSCI Pakistan Index.
MSCI will reclassify the MSCI Pakistan Indexes from Emerging Markets to Frontier Markets in one step, coinciding with the November 2021 Semi-Annual Index Review (SAIR).
Based on a simulation using pro forma data as of August 31, 2021, this would lead to the inclusion of four securities in the MSCI Frontier Markets Index with an estimated index weight of 1.90 per cent.
Although the Pakistani equity market meets the requirements for Market Accessibility under the classification framework for Emerging Markets, it no longer meets the standards for Size and Liquidity.
More specifically, index continuity rules, as described in section 2.4 of the MSCI Global Investable Market Indexes Methodology, have been applied since the November 2018 Semi-Annual Index Review to maintain the required three constituents in the MSCI Pakistan Index.
Since the November 2019 SAIR, there have been no securities in the MSCI Pakistan equity universe that meet the Emerging Markets Size and Liquidity criteria within the MSCI Market Classification Framework.
Starting with the November 2021 SAIR, the MSCI Pakistan Indexes will be rebalanced using Size and Liquidity requirements for Smaller, Average Liquidity Frontier Markets as described in section 5.2 of the MSCI Global Investable Market Indexes Methodology.
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Carrefour, McDonald’s introduce new retail experience
KARACHI: Carrefour, owned and operated by Majid Al Futtaim in Pakistan, signed an MoU with McDonald’s Pakistan to introduce a new retail experience to its customers, according to a statement issued on Tuesday.
Both entities have agreed to host each other’s retail spaces at suitable locations, offering both their customers a dual shopping and out-of-home dining experience at the same location.
Carrefour Pakistan plans to expand its retail network by opening a standalone store, which will host a McDonald’s restaurant at its premises.
This exciting partnership will introduce customers to a new experience where they can shop for their groceries and instantly purchase a McDonald’s meal all in one place.
The collaboration will benefit both entities as they work towards expanding their customer outreach and retail offering through modern retail infrastructure.
Speaking about the initiative, Umer Lodhi, Country Manager of Carrefour Pakistan at Majid Futtaim Retail, said: “As a leading retail brand in Pakistan, we are committed to modernizing the country’s retail infrastructure by introducing unique customer experiences for all our customers. The latest partnership with McDonald’s reflects our vision to constantly deliver exceptional value to all our shoppers by creating a unique experience and great moments for them.”
Jamil Ahmed Mughal, the Chief Operating Officer of McDonald’s in Pakistan, also added: “We are pleased to join hands with Carrefour Pakistan as this collaboration will play a strong role in stimulating customer experience, giving them an added benefit of shopping for their grocery needs and satisfying their hunger.”
Both Carrefour and McDonald’s in Pakistan will manage and represent their identities independently at these shared ventures while exploring further collaborative opportunities with each other that will upgrade the shopping experience for a broader group of customers.
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Prize Bonds (Bearer) not to be encashed after Sept 30
KARACHI: The last date to exchange or encash the unregistered of bearer prize bonds with denominations of Rs40,000, Rs25,000, and Rs15,000 is September 30, 2021.
According to a circular issued by the State Bank of Pakistan (SBP), the Finance Division, Government of Pakistan has allowed to exchange/replace or convert Rs40,000, Rs25,000, and Rs15,000 denomination prize bonds (bearer) up to September 30, 2021.
The SBP directed the banks that branch/region wise consolidated data of cited denomination prize bonds held by them on the last date i.e. September 30, 2021, shall be shared latest by October 01, 2021.
The government on June 24, 2019, announced to discontinue the circulation of Rs40,000 denomination national prize bonds.
Similarly, on December 10, 2020, the government announced to discontinue the circulation of Rs25,000 denomination prize bonds.
In April 2021, the finance ministry announced that national prize bonds of denominations Rs7,500 and Rs15,000 shall not be sold.
The finance divisions also issued the procedure for the redemption/conversion of bonds.
The bonds can be converted to premium prize bonds (registered) of denomination of Rs25,000 and Rs40,000 (subject to the adjustment of differential amount) through 16 field offices of State Bank of Pakistan (SBP) Banking Services Corporation, and branches of six commercial banks i.e. National Bank of Pakistan, Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited, and Bank Alfalah Limited.
The bonds can be replaced with Special Saving Certificates/Defence Saving Certificates through the 16 field offices of SBP Banking Services Corporation, authorized commercial banks, and the National Savings Center.
The bonds will only be encashed by transferring the proceeds to the bonds holder’s bank account through the 16 field offices of SBP Banking services corporation well as the authorized commercial bank branches and to the Saving Accounts at National Savings Centers.