Author: Hamza Shahnawaz

Foreign currency rates in Pak Rupee – June 22, 2022

KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on June 22, 2022 (The rates are updated at 10:15 AM (Pakistan Standard Time):

Currency	Buying	Selling
Australian Dollar (AUD)	143.55	144.80
Bahrain Dinar (BHD)	549.53	554.03
Canadian Dollar (CAD)	159.20	160.55
China Yuan (CNY)	30.78	31.03
Danish Krone (DNK)	29.15	29.50
Euro (EUR)	223.00	226.50
Hong Kong Dollar (HKD)	26.32	26.67
Indian Rupee (INR)	2.65	2.73
Japanese Yen (JPY)	1.60	1.66
Kuwaiti Dinar (KWD)	671.36	676.36
Malaysian Ringgit (MYR)	46.93	47.38
NewZealand $ (NZD)	130.45	131.65
Norwegians Krone (NOK)	20.66	20.96
Omani Riyal (OMR)	537.38	541.88
Qatari Riyal (QAR)	56.76	57.26
Saudi Riyal (SAR)	56.40	57.00
Singapore Dollar (SGD)	148.55	149.85
Swedish Korona (SEK)	20.28	20.58
Swiss Franc (CHF)	210.50	212.25
Thai Bhat (THB)	5.87	5.97
U.A.E Dirham (AED)	57.80	58.50
UK Pound Sterling (GBP)	260.00	263.50
US Dollar (USD)	213.50	215.50

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.

June 22, 2022

Pakistani Rupee to US Dollar on June 22, 2022

KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 22, 2022:

Buying: Rs 213.50 to the US Dollar

Selling: Rs 215.50 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 09:57 AM 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.

READ MORE: Pakistani Rupee to US Dollar on June 21, 2022

June 22, 2022
Pakistani Rupee to UAE Dirham on June 22, 2022

KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on June 22, 2022:

Buying: Rs 57.80 to the UAE Dirham

Selling: Rs 58.50 to the UAE Dirham

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 09:55 AM Pakistan Standard Time (PST).

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.

READ MORE: Pakistani Rupee to UAE Dirham on June 21, 2022

June 22, 2022
Pakistani Rupee to Euro on June 22, 2022

KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on June 22, 2022:

Buying: Rs 223.00 to the Euro

Selling: Rs 226.50 to the Euro

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 for foreign currency from a customer.

The rate has been updated at 09:50 AM Pakistan Standard Time (PST).

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.

READ MORE: Pakistani Rupee to Euro on June 21, 2022

June 22, 2022
Pakistani Rupee to UK Pound Sterling on June 22, 2022

KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on June 22, 2022:

Buying: Rs 260.00 to the UK Pound Sterling

Selling: Rs 263.50 to the UK Pound Sterling

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 09:47 AM Pakistan Standard Time (PST).

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.

READ MORE: Pakistani Rupee to UK Pound Sterling on June 21, 2022

June 22, 2022
Pakistani Rupee to Saudi Riyal on June 22, 2022

KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on June 22, 2022:

Buying: Rs 56.40 to the Saudi Riyal

Selling: Rs 57.00 to the Saudi Riyal

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 for foreign currency from a customer.

The rate has been updated at 09:43 AM Pakistan Standard Time (PST).

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.

READ MORE: Pakistani Rupee to Saudi Riyal on June 21, 2022

June 22, 2022
Paper merchants slam price hike by local producers

KARACHI: Paper merchants and graphic printers are facing with a severe shortage of paper, while the local producers have increased the prices by over 200 percent pushing the printing and packaging industry towards collapse.

Speaking at a press conference at Karachi Press Club, Chairman Pakistan Association of Printing Graphic Art Industry on Tuesday, Aziz Khalid said there was a severe shortage of paper in the country, and local paper mills were fixing the rates at their will.

“Local mills produce low quality paper and are unable to meet the demand.”

He said due to the scarcity of paper, printers couldn’t print the school syllabus so far, which was impacting the students of Sindh and Punjab Text Book Boards.

Criticizing the policies of the government as negative, Khalid claimed over 18,000 units involved in the printing and packaging supply chain were suffering due to higher taxes on imported paper.

“We have approached the Ministry of Finance, Commerce Division and Federal Board of Revenue FBR apprising them of the problems of the paper and printing industry, but there is no redressal”.

Speaking on the occasion, former Chairman All Pakistan Paper Merchants Association, Muhammad Saleem Bikyia said the government allows them to import paper, and the government revenue would be doubled.

“The former government imposed multiple taxes on educational paper imports, while the locally produced paper is very low quality as well as unable to meet demand.”

It may be mentioned here that the printing and packaging is the second largest value-added industry after textiles.

High prices & inferior quality are the major factors to confine us to enter US$:1000 billion export markets of books/leaflets/ packaging materials etc., which are mainly consumes by Singapore, Malaysia, China, India and UAE, said Bikyia.

Federal Minister of Finance & Revenue unfairly imposed 10 per cent Regulatory Duty (RD) in uncoated woodfree paper (HS Code 4802) in year budget 2021-22 despite of facts that 11 per cent to 39 per cent Anti-Dumping Duty already exists in said item. This is double jeopardy tax. Lawfully, Regulatory Duty (RD) cannot be enforced when Anti-Dumping duty already exists.

Saleem Bikyia said that there is No duty on basis Raw Materials i.e. pulp (H.S Code 47), and tiny 5 per cent duty on finished goods i.e. printed books, literary materials (HS Code 49); however in semi-finished Raw Material (H.S Code 48) i.e. paper & paperboard there is 16 per cent customs duty taxes, 4 per cent Additional Customs Duty, 10 per cent RD, & 11 per cent to 39 per cent Anti-Dumping Duty.

The stakeholders urged Federal Board of Revenue (FBR) to initiate investigation to substantiate how much 90 per cent domestic paper producers produce and pay sales taxes to national exchequer compare with 10 per cent imported paper who pay advance 17 per cent sales tax and 3 per cent value added tax at custom stage, results of billions of rupees of corruption, pilferage, swindle and embezzlement of local paper.

June 21, 2022
Dollar reaches Rs212 at midday interbank trading

KARACHI: The US Dollar reached historic high at Rs212 against Pakistani Rupee (PKR) in midday trading at interbank foreign exchange market on Tuesday.

The US dollar is being traded at Rs212 after gaining Rs2.04 from last day’s closing of Rs209.96 in the interbank foreign exchange market.

READ MORE: Dollar climbs up to Rs210 in midday interbank trading

Currency experts said that the foreign exchange reserves had declined to critically low, which created panic in the market. Besides, high oil prices and rise in commodity prices globally also pushed dollar demand for import payments.

According to data released by the State Bank of Pakistan (SBP) a day earlier, the official reserves of the central bank had declined to provide about one month import cover.

The official foreign exchange reserves of the State Bank of Pakistan (SBP) fell by $241 million to $8.985 billion by week ended June 10, 2022 as compared with $9.226 billion a week ago i.e. June 03, 2022.

The present level of the SBP’s reserves showed that the central bank has import cover for around only one months.

READ MORE: Dollar hits historic high against rupee, ends near Rs210

Pakistan’s import bill for the month of May 2022 recorded at $6.777 billion, according to Pakistan Bureau of Statistics (PBS).

The latest foreign exchange reserves of the SBP showed it fell around 2½ years low. Previously, the foreign exchange reserves held by the central bank were seen at $9.233 billion on December 6, 2019.

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021.

Since touching the peak the central bank’s foreign exchange witnessed a continuous decline. The official reserves of the SBP fell around $11.16 billion by week ended June 10, 2022 from touching the peak on August 27, 2021.

READ MORE: Pakistan’s central bank reserves shrink to one month import cover

The country is facing serious balance of payment crisis during the past many months. The foreign exchange reserves of the central bank have seen a constant decline.

The country was expecting inflows from various sources but so far those were not materialized so far. The country also making all efforts to resume IMF program to obtain about $ 1 billion next tranche under Extended Fund Facility (EFF).

It is pertinent to mention that the government had twice increased the prices of petroleum products since May 26, 2022 in order to satisfy the International Monetary Fund (IMF) for the release of next tranche of about $1 billion. Another increase was seen on June 15, 2022.

The government on May 26, 2022 decided partially withdraw the subsidy to get the next tranche of the IMF, the rupee sharply made gains against the dollar. The local unit made a recovery of Rs4.42 against the dollar during the past five sessions.

The rupee remained under pressure against the greenback during the current fiscal year. The State Bank of Pakistan (SBP) has taken various measures to support balance of payment and the local currency. However, the measures ended in a failure to help the rupee to recover losses.

The SBP on May 23, 2022 announced a sharp increase in policy rate by 150 basis points to 13.75 per cent from 12.25 per cent.

Recently the government announced a complete ban on imports to support balance of payment and help the rupee to stabilize. But all these measures appeared in failure as the exchange rate yet again deteriorated today massively.

READ MORE: Free-fall in rupee continues, dollar touches new high at Rs206.46

June 21, 2022

Foreign currency rates in Pak Rupee – June 21, 2022

KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on June 21, 2022 (The rates are updated at 09:14 AM (Pakistan Standard Time):

Currency	Buying	Selling
Australian Dollar (AUD)	143.55	144.80
Bahrain Dinar (BHD)	549.53	554.03
Canadian Dollar (CAD)	159.20	160.55
China Yuan (CNY)	30.78	31.03
Danish Krone (DNK)	29.15	29.50
Euro (EUR)	220.00	223.00
Hong Kong Dollar (HKD)	26.32	26.67
Indian Rupee (INR)	2.65	2.73
Japanese Yen (JPY)	1.60	1.66
Kuwaiti Dinar (KWD)	671.36	676.36
Malaysian Ringgit (MYR)	46.93	47.38
NewZealand $ (NZD)	130.45	131.65
Norwegians Krone (NOK)	20.66	20.96
Omani Riyal (OMR)	537.38	541.88
Qatari Riyal (QAR)	56.76	57.26
Saudi Riyal (SAR)	55.90	56.60
Singapore Dollar (SGD)	148.55	149.85
Swedish Korona (SEK)	20.28	20.58
Swiss Franc (CHF)	210.50	212.25
Thai Bhat (THB)	5.87	5.97
U.A.E Dirham (AED)	57.30	58.20
UK Pound Sterling (GBP)	257.00	260.50
US Dollar (USD)	211.00	213.00

June 21, 2022

Pakistani Rupee to US Dollar on June 21, 2022

KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 21, 2022:

Buying: Rs 211.00 to the US Dollar

Selling: Rs 213.00 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 09:03 AM 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.

READ MORE: Pakistani Rupee to US Dollar on June 20, 2022

June 21, 2022