KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 26, 2022.
(more…)Author: Faisal Shahnawaz
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Ripple to PKR, USD on December 26, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 26, 2022.
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Dogecoin to PKR, USD on December 26, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 26, 2022.
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Pakistan’s official forex reserves plummet to about one month import cover
KARACHI: Official foreign exchange reserves of Pakistan have reduced to provide about one month import cover, according to data released by the State Bank of Pakistan (SBP).
The official foreign exchange reserves of the State Bank fell to $6.12 billion by week ended December 16, 2022.
READ MORE: Pakistan foreign exchange reserves ease to $12.57 billion
Whereas, the import bill of the country for the month of November 2022 was recorded at $5.18 billion, according to Pakistan Bureau of Statistics (PBS).
This shows the official foreign exchange reserves of the country have capacity to provide import cover for only 1.2 months. The benchmark foreign exchange reserves of a central bank should be at a level to provide three months import cover.
READ MORE: Pakistan official forex reserves plunge multi years low to $6.72 billion
The central bank said that its foreign exchange reserves fell by $584 million to $6.12 billion by week ended December 16, 2022 when compared with $6.70 billion a week ago i.e. December 09, 2022.
State Bank attributed the decline in official reserves to external debt repayment. The current level of reserves witnessed multi years low as the SBP reserves were seen at $7 billion in April 2014.
The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP dropped by $14.026 billion.
The total foreign exchange reserves of the country slipped by $570 million to $12 billion by week ended December 19, 2022 when compared with $12.57 billion a week ago.
READ MORE: SBP foreign exchange reserves fall to $7.5 billion
The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $15.228 billion.
The foreign exchange reserves held by commercial banks however recorded a nominal increase of $10 million to $5.88 billion by week ended December 16, 2022 as compared with $5.87 billion a week ago.
The critical low level of the foreign exchange reserves may further put pressure on the exchange rate, said analysts at KASB Research.
READ MORE: Pakistan official reserves fall to around 1 ½ months import coverage
Plummeting foreign exchange reserves amidst high debt servicing obligations will likely exert considerable pressure on the Pak Rupee (PKR).
As per the SBP, REER has again crossed the 100 mark, driven by Pakistan’s high inflation environment.
As debt servicing exerts additional pressure on the PKR, the analysts believed the currency may depreciate to PKR 265 to the US dollar by end of the current fiscal year.
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Old design banknotes to become worthless after December 31
KARACHI: The State Bank of Pakistan (SBP) has again reminded the general public of demonetizing old designed banknotes will not be legal tender after December 3, 2022.
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Price, specs of Changan Alsvin in Pakistan
Changan Alsvin was launched in Pakistan on January 11, 2021. The car is locally manufactured by Master Changan Motors Limited.
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Bitcoin to PKR, USD on December 25, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 25, 2022.
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Ripple to PKR, USD on December 25, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 25, 2022.
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Dogecoin to PKR, USD on December 25, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 25, 2022.
One Dogecoin to PKR is Rs17.34 on December 25, 2022 at 11:18 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs17.39 at closing on December 24, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.08 on December 25, 2022 at 11:18 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.08 at closing on December 24, 2022.
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Ripple to PKR, USD on December 25, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 25, 2022.
One Ripple (XRP) in Pakistani Rupee (PKR) is Rs81.47 on December 25, 2022 at 11:18 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs81.47 at closing on December 24, 2022.
The rate of Ripple in US Dollar (USD) is $0.36 on December 25, 2022 at 11:18 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.36 at closing on December 24, 2022.
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Bitcoin to PKR, USD on December 25, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 25, 2022.
One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs3,793,068.99 on December 25, 2022 at 11:18 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs3,791,851.28 at closing on December 24, 2022.
The rate of Bitcoin in US Dollar (USD) is $16,820.71 on December 25, 2022 at 11:18 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $16,815.30 at closing on December 24, 2022.
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Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the 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 not a recommendation to buy, sell or hold any security or financial product.
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Karachi Chamber demands deferring date for payment under Section 7E
Karachi: The Karachi Chamber of Commerce and Industry (KCCI) has urged the authorities to extend the deadline for payment under Section 7E of the Income Tax Ordinance, 2001.
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