KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as of December 30, 2021.
Following are the latest KIBOR rates:
| Tenor | BID | OFFER |
| 1 – Week | 9.76 | 10.26 |
| 2 – Week | 9.81 | 10.31 |
| 1 – Month | 9.88 | 10.38 |
| 3 – Month | 10.29 | 10.54 |
| 6 – Month | 11.22 | 11.47 |
| 9 – Month | 11.21 | 11.71 |
| 1 – Year | 11.29 | 11.79 |
KARACHI: Alibaba.com, leading global B2B e-commerce marketplace, held a seller summit; titled ‘Unlock Business Growth Code’ in Sialkot to bring Pakistani sellers aboard its platform, thereby helping them to access over 200 markets globally, a statement said on Thursday.
The summit featured talks by representatives of Alibaba.com, local trade associations, senior government officials and a number of successful online sellers.
Alibaba is one of largest business-to-business marketplace platforms that drive global e-commerce and continue to register substantial growth by the day.
The company is actively working to tap into Pakistan’s unexplored potential for e-commerce and has launched multiple similar initiatives in the recent past. According to business estimates, Pakistan is expected to witness an annual growth of 28% in e-commerce in the next 3 years, crowning it as one of the biggest exporters of online goods.
The Sialkot Summit will help Alibaba reach out to local micro, small and medium scale businesses, who can grow their businesses by selling through Alibaba’s platform. In order to ensure sustainability of the new businesses, particularly those who were affected by the COVID-19 pandemic, Alibaba.com will extend support services like advertising, logistics, payments and daily operations systems. The platform will help the SMEs connect with new buyers and explore new markets globally.
The summit featured roundtable conference and keynote speeches of important stakeholders for exchange of ideas and consultation in order to chalk out a clear pathway for growth of local businesses and exports.
Speaking at the event, Head of Alibaba.com, APAC, Mr. Stephen Kuo said we are thrilled by the enthusiasm and keenness of local business leaders and entrepreneurs to explore new horizons. There is a lot of untapped potential for growth of e-commerce in Pakistan and Alibaba.com wishes to help unlock it for sustainable economic growth of SMEs and in turn the national economy. He said that the ecommerce giant will fully support local sellers by helping them start their business online, right from setting up their stores, uploading products to logistics and operations. He further said, the collaborative arrangement will create unprecedented shared value and facilitate mutual growth in the long run.
Also speaking, Vice President, Sialkot Chamber of Commerce and Industry, Ms. Shabina said, we are thankful to Alibaba.com for its efforts to open newer avenues for local businesses to enhance their sales and profitability. The world is changing fast through digitization; therefore traditional businesses should also change for good. E-commerce is the future and is beneficial for the small and medium business holders because it is less effort and operational cost for better revenues. Through, Alibaba’s global platform, our businesses can access markets all over the world and contribute effectively to the national economy.
KARACHI: Realme has appointed Harvey He as the new country manager for Pakistan and joined hands with three leading channel distributors, a statement said on Thursday.
It said that realme is looking to expand its footprint in Pakistan by ushering a new sales-first era in 2022.
These strategic developments underscore a new direction for realme, following the local assembly of its smartphones in Pakistan.
READ MORE: Air Link signs deal for distribution of realme smartphones
The three distributors that realme has taken on-board are Airlink Communications (North Region), United Mobile (Central Region) and Muller & Phipps (South Region).
With New Year just around the corner, Harvey He has taken the helm at realme as Country Manager – Pakistan.
Harvey brings with himself a stellar sales management experience and has been acquainted with Pakistan since realme set up shop in the country.
READ MORE: Amazon Software Technology Park inaugurated
He is the Head of Sales for realme Pakistan, Bangladesh & Sri Lanka and has now taken the additional charge as Country Manager – Pakistan, thereby bringing his seasoned understanding of the local smartphone industry to the fore.
Being the fastest growing smartphone brand of the country, Pakistan ranks among the top four markets for realme within South Asia.
The brand went on to sell more than two million devices in Pakistan since its entry, which is a testimony of the growing demand for realme smartphones.
READ MORE: State Bank launches easy mobile phone account
A local assembly line has also been setup in the country to absorb the rise in demand for realme products which in-turn will bring a lot of benefit to the end-consumer by making product prices even more attractive.
To further bolster its footprint in Pakistan, realme has also partnered with three leading channel distributors namely Airlink Communications, United Mobile and M&P. The onboarding of these distributors amplifies the sales-first approach that is at the heart of realme’s strategy for Pakistan in 2022.
realme strives to provide the ultimate value-for-money and top notch quality in its products, while also being a flag bearer of affordable 5G technology. As a young brand, realme resonates with the youth’s daring spirit and is focused on delivering trendsetting smartphones for young people around the world.
KARACHI: Pakistan’s foreign exchange reserves experienced a significant decline of $360 million during the week ending December 24, 2021, according to the State Bank of Pakistan (SBP). The drop in reserves highlights ongoing challenges in managing the country’s external accounts amid fluctuating global economic conditions.
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KARACHI: The Pak Rupee (PKR) made a sharp recovery of 73 paisas against the dollar on Thursday owing to sufficient supply of the foreign currency in the market.
The rupee ended Rs177.51 to the dollar from previous day’s closing of Rs178.24 in the interbank foreign exchange market.
READ MORE: Rupee falls to new historic low of Rs178.24 to dollar
The last day’s closing was the lowest level of the rupee.
Currency experts said that the market witnessed high dollar demand earlier in the day and the rupee fell to intraday low of Rs178.35.
However, they said that the State Bank of Pakistan (SBP) intervened to support the local currency. They claimed sufficient liquidity provided by the central bank to meet the foreign payments.
READ MORE: Bank holiday on January 03, 2022 announced
The experts said that the action was taken to support the local unit and keep the value below the lowest level by end the year. Today was second last trading of the year.
They said that due to year end the demand for dollar remained high as corporate buyers and importers were seen active during the day.
READ MORE: Pakistan’s forex reserves decline by $395 million in week
Since the start of the current fiscal year the rupee has witnessed sharp decline owing to large import bill and widening of current account deficit.
Karachi, Pakistan – On Thursday, the State Bank of Pakistan (SBP) disclosed the official exchange rates for December 30, 2021, providing customers with crucial information based on the weighted average rates of commercial banks.
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KARACHI: The State Bank of Pakistan (SBP) on Thursday announced bank holiday on Monday January 03, 2022.
Through communication, the SBP said it will remain closed for public dealing on Monday, January 3, 2022, which will be observed as ‘Bank Holiday’.
All banks / Development Financial Institutions (DFIs) / Microfinance Banks (MFBs) shall, therefore, remain closed for public dealing on the aforementioned date.
However, employees of banks / DFIs / MFBs will attend the office as usual, the SBP added.
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs30.58 on December 30, 2021 in open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs31.36 on December 29, 2021.
The rate of Dogecoin in US Dollar (USD) is $0.17 on December 29, 2021 in open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.18 on December 29, 2021.
Disclaimer: All data and information is provided for informational purposes only. The data has not provided for trading purposes or financial, investment, tax, legal, accounting or other advice. In case of trading it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is n not a recommendation buy, sell or hold any security or financial product.
KARACHI – The latest open market exchange rates of foreign currencies against the Pakistani Rupee (PKR) have been released as of 12:14 PM Pakistan Standard Time on December 30, 2021.
(more…)KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on December 30, 2021:
Buying: Rs 179.60 to the US Dollar
Selling: Rs 180.80 to the US Dollar
The buying rate means an exchange company or a bank buys foreign currency from a customer.
The selling rate means an exchange company or a bank sells the foreign currency from a customer.
The rate has been updated at 12:01 PM Pakistan Standard Time (PST).
The US Dollar /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.