Author: Mrs. Anjum Shahnawaz

Rupee weakens by 15 paisas against dollar

KARACHI: The Pak Rupee depreciated by 15 paisas against the dollar on Tuesday owing to higher demand for import payment.

The rupee ended at Rs159.51 to the dollar from the previous day’s closing of Rs159.36 in the interbank foreign exchange market.

Currency experts said that the rupee remained under pressure due to higher demand for import payment.

They said that the market had responded earlier in the day due to reports of record inflows of workers remittances.

The State Bank of Pakistan (SBP) earlier in the day announced the details of remittances. The remittances rose to a historic annual high of $29.4 billion in the fiscal year 2020/2021. The remittances registered a substantial 27 per cent growth in the fiscal year 2020/2021 over the preceding fiscal year.

July 13, 2021

SBP issues exchange rates for July 13, 2021

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

The SBP said that the data is compiled and disseminated for information only. These Exchange Rates are an estimate of the Exchange Rates quoted by various Commercial Banks to their clients.

They are compiled from the Exchange Rate sheets issued daily by various Commercial Banks providing their indicative Exchange Rates for commercial transactions with customers.

CURRENCY	BUYING	SELLING
AED	43.3947	43.4896
AUD	119.2780	119.5334
CAD	127.8261	128.0973
CHF	174.0783	174.4510
CNY	24.6628	24.7135
EUR	188.9364	189.3506
GBP	221.1272	221.6094
JPY	1.4426	1.4458
SAR	42.4679	42.5595
USD	159.2510	159.6143

July 13, 2021

Remittances flow $2bn for 13th consecutive month

KARACHI: The inflows of workers’ remittances continued streak of over $2 billion for a record 13^th consecutive month to reach historic annual high at $29.4 billion in 2020/2021, State Bank of Pakistan (SBP) said on Tuesday.

The SBP said that with inflows of around $2.7 billion in June 2021 (9 percent growth (y/y) and 8 percent growth (m/m)), workers’ remittances continued their unprecedented streak of above $2 billion for a record 13th consecutive month.

Seasonal pre-Eid related inflows helped to further boost remittances level during June.

On a cumulative basis, remittances rose to a historic annual high of $29.4 billion.

This has helped improve the country’s external sector position despite the challenging global economic conditions in the past year.

Remittances registered a substantial 27 percent growth in FY21 over last year, the fastest rate of expansion since FY03.

Remittance inflows during FY21 were mainly sourced from Saudi Arabia ($7.7 billion), United Arab Emirates ($6.1 billion), United Kingdom ($4.1 billion) and the United States ($2.7 billion).

Overall, record high inflows of workers’ remittances during FY21 have been driven by proactive policy measures by the Government and SBP to incentivize the use of formal channels, curtailed cross-border travel in the face of COVID-19 infections, altruistic transfers to Pakistan amid the pandemic, and orderly foreign exchange market conditions.

July 13, 2021
FBR categorizes heads of income for tax collection

The Federal Board of Revenue (FBR) in Pakistan has outlined five distinct heads of income for the purpose of tax collection from both individuals and corporate entities.
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July 13, 2021
Exchange rate: buying, selling of Saudi Riyal in rupee on July 13

The exchange rate of the Saudi Riyal (SAR) against the Pakistani Rupee (PKR) has been holding steady, with the buying rate at Rs 42.00 and the selling rate at Rs 42.50 in the open market on July 13, 2021.
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July 13, 2021
Exchange rate: buying, selling of UAE Dirham in rupee on July 13

The open market exchange rates for the UAE Dirham (AED) against the Pakistani Rupee (PKR) on July 13, 2021, are as follows:
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July 13, 2021
Exchange rate: buying, selling of Euro in rupee on July 13

Karachi, July 13, 2021 – The open market exchange rates for the Euro to Pakistani Rupee (EUR/PKR) on July 13, 2021, have been released, providing crucial information for individuals and businesses engaged in cross-border transactions.
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July 13, 2021
Exchange rate: buying, selling of UK Pound in rupee on July 13

KARACHI: The open market rates for buying and selling one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) on July 13, 2021, have been reported as follows:
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July 13, 2021
Exchange rate: buying, selling of US Dollar in rupee on July 13

KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in open market on July 13, 2021:

Buying: Rs 159.30 to the dollar

Selling: Rs 159.90 to the dollar

Today’s USD to PKR (Dollar Price in Pakistan Rupee 2021) exchange rate has been given here. All rates are updated every hour to offer you the best US Dollar to Pakistani Rupee.

The US Dollar / Rupee PKR parity depends on open market rates which are set by the market forces on the basis of demand of the foreign currency.

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

July 13, 2021
FBR bars field formations from assigning additional charge to any officer

The Federal Board of Revenue (FBR) has issued a directive, barring field formations from assigning unauthorized additional charges to officers.
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July 13, 2021