KARACHI: State Bank of Pakistan (SBP) Monday issued revision in loan program under Prime Minister (PM) Kamyab Jawan Youth Entrepreneur Scheme (PMKJ-YES).
(more…)Author: Faisal Shahnawaz
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Floor tile production halts on LC restrictions, gas shortage
KARACHI: A ceramic company has decided to shut down its floor tile production due to restrictions of Letter of Credit (LC) opening and prevailing gas shortage.
In a communication received by Pakistan Stock Exchange (PSX), Frontier Ceramics Limited announced the shut down its floor tile production plant for an uncertain period due to gas supply shortage.
The company further stated that the unforeseen devaluation of Pakistani Rupee (PKR) coupled with government’s restriction, including LC approval constraints and general economic instability were also the reason behind the decision.
“The resumption of operation (as the case may be) will be communicated accordingly,” the company stated in the communication.
It said the information is being conveyed in accordance with the requirements of Regulation of Pakistan Stock Exchange Limited (PSX) and the applicable provisions of the Securities Act, 2015.
The company also requested the stock exchange that the information may be disseminated amongst the TRE Certificate Holders of the stock exchange as well.
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PKR weakens by 25 paisas to dollar on foreign payment demand
KARACHI: Pakistani Rupee weakened by 25 paisas against the US dollar on Monday owing to higher foreign payment demand.
The exchange rate recorded a decline of 25 paisas in rupee value to end at PKR 224.65 to the dollar from last Friday’s closing of PKR 224.40 in the interbank foreign exchange market.
READ MORE: Rupee eases against dollar amid sharp decline in forex reserves
Currency experts said that the first day of the week witnessed pressure on rupee because of higher demand of the dollar for import and corporate payments.
They further said that falling foreign exchange reserves also impacting adversely the exchange rate.
Pakistan’s official foreign exchange reserves have plunged to multi years low to $6.72 billion by week ended December 02, 2022. The official reserves of State Bank of Pakistan (SBP) fell by $784 million to $6.715 billion by week ended December 02, 2022 when compared with $7.499 billion a week ago i.e. November 25, 2022. Previously, the SBP reserves were seen at $7 billion in April 2014.
READ MORE: PKR devaluation against dollar continues despite strict monitoring
The central bank said that during the week ended December 02, 2022, SBP reserves decreased by $ 784 million to $ 6,714.9 million.
This decline is on account of the payment of $1,000 million against maturing Pakistan International Sukuk and some other external debt repayments.
Some of the debt repayments were offset by inflows, mainly $500 million received from Asian Infrastructure Investment Bank (AIIB), the SBP added.
READ MORE: Dollar advances to PKR 224.16 at interbank closing on Dec 07
Last week the chief of the central bank made a statement regarding foreign payments to be made by the country.
SBP Governor Jameel Ahmad said that the country will continue to make timely repayments while inflows are expected to increase significantly in the second half of the current fiscal year.
READ MORE: Dollar hits PKR 224.11 amid foreign payment demands
He said, for the fiscal year 2023, around $33 billion were to be repaid to external stakeholders, including the Current Account Deficit (CAD) of $10 billion and $23 billion in loan repayments.
Out of the payable $23 billion external debt, Pakistan has already repaid more than $6 billion whereas as a bilateral loan of $4 billion has been rolled over with the cooperation of relevant countries.
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State Bank issues foreign exchange rates on December 12, 2022
KARACHI: The State Bank of Pakistan (SBP) has disclosed the foreign exchange rates for December 12, 2022, providing a comprehensive overview of the currency market’s performance.
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Bitcoin to PKR, USD on December 12, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 12, 2022.
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Ripple to PKR, USD on December 12, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 12, 2022.
One Ripple (XRP) in Pakistani Rupee (PKR) is Rs81.51 on December 12, 2022 at 03:33 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs81.24 at closing on December 11, 2022.
The rate of Ripple in US Dollar (USD) is $0.36 on December 12, 2022 at 03:33 PM 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 11, 2022.
READ MORE: to PKR, USD on December 11, 2022
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Dogecoin to PKR, USD on December 12, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 12, 2022.
One Dogecoin to PKR is Rs20.09 on December 12, 2022 at 03:33 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs21.77 at closing on December 11, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.09 on December 12, 2022 at 03:33 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.10 at closing on December 11, 2022.
READ MORE: Dogecoin to PKR, USD on December 11, 2022
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Bitcoin to PKR, USD on December 12, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 12, 2022.
One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs3,826,430.13 on December 12, 2022 at 03:33 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs3,860,024.96 at closing on December 11, 2022.
The rate of Bitcoin in US Dollar (USD) is $16,960.72 on December 12, 2022 at 03:33 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $17,166.61 at closing on December 11, 2022.
READ MORE: Bitcoin to PKR, USD on December 11, 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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Dogecoin to PKR, USD on December 12, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 12, 2022.
One Dogecoin to PKR is Rs20.09 on December 12, 2022 at 03:33 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs21.77 at closing on December 11, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.09 on December 12, 2022 at 03:33 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.10 at closing on December 11, 2022.
READ MORE: Dogecoin to PKR, USD on December 11, 2022
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Ripple to PKR, USD on December 12, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 12, 2022.
One Ripple (XRP) in Pakistani Rupee (PKR) is Rs81.51 on December 12, 2022 at 03:33 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs81.24 at closing on December 11, 2022.
The rate of Ripple in US Dollar (USD) is $0.36 on December 12, 2022 at 03:33 PM 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 11, 2022.
READ MORE: to PKR, USD on December 11, 2022
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Bitcoin to PKR, USD on December 12, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 12, 2022.
One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs3,826,430.13 on December 12, 2022 at 03:33 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs3,860,024.96 at closing on December 11, 2022.
The rate of Bitcoin in US Dollar (USD) is $16,960.72 on December 12, 2022 at 03:33 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $17,166.61 at closing on December 11, 2022.
READ MORE: Bitcoin to PKR, USD on December 11, 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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Pakistan may cut petroleum prices on Dec 15, 2022
Pakistan may reduce petroleum prices on December 15 to be effective for last fortnight of the year 2022. Experts believe that the government may reduce the prices of petroleum products in the wake of sharp decline in oil prices in global markets.
Benchmark Brent crude is ended at $76 per barrel in the international trade. The Brent crude has hit above $120 per barrel during mid-June this year and now fell to the present level leaving ample room to the present government to revise downward the prices to provide relief the domestic consumers.
READ MORE: New petroleum prices in Pakistan effective from December 01, 2022
An energy expert told PkRevenue that the country may revise the petroleum prices for the next fortnight amid sharp fall in international oil prices.
However, on the other hand the depreciation in rupee value and imminent imposition of sales tax on petroleum products the benefit of decline in international oil prices may not pass on to domestic consumers.
READ MORE: Pakistan may impose petroleum tax to avert revenue shortfall
The expert believed that the imposition of sales tax on petroleum products would increase the retail prices as well as result in high inflation.
However, experts believed that rise in petroleum prices were imminent in the next review as the government was under immense pressure from the IMF to impose sales tax on petroleum products.
At present the government adopted a policy to keep zero sales tax on petroleum products instead flat rate of 17 per cent. Furthermore, the government also committed to apply petroleum levy to generate more revenue for curtailing budget deficit.
READ MORE: Petroleum prices in Pakistan for next fortnight effective from November 16, 2022
The government on December 01, 2022 revised the latest petroleum prices. According to a notification, the prices of petroleum products with effect from December 01, 2022 till December 15, 2022 are be as follows:
Petrol price will be remained unchanged at Rs224.80 per liter.
The rate of high speed diesel (HSD) will also be remained unchanged at Rs235.30 per liter.
The price of kerosene has been reduced by Rs10 per liter to Rs181.83 from Rs191.30.
READ MORE: Petroleum prices in Pakistan effective from November 01, 2022
Likewise, the price of light diesel oil has been reduced by Rs7.50 per liter to Rs179.00 from Rs186.50.
The exchange rate is again showing a deterioration in rupee value against the dollar. The US dollar continued to make gain against the Pakistani Rupee (PKR) on December 09, 2022 and reached PKR 224.40 in the interbank foreign exchange market.
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Bitcoin to PKR, USD on December 11, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 11, 2022.
One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs3,860,024.96 on December 11, 2022 at 02:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs3,856,232.72 at closing on December 10, 2022.
The rate of Bitcoin in US Dollar (USD) is $17,166.61 on December 11, 2022 at 02:40 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $17,149.74 at closing on December 10, 2022.
READ MORE: Bitcoin to PKR, USD on December 10, 2022
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Dogecoin to PKR, USD on December 11, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 11, 2022.
One Dogecoin to PKR is Rs21.77 on December 11, 2022 at 02:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs21.72 at closing on December 10, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.10 on December 11, 2022 at 02:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.10 at closing on December 10, 2022.
READ MORE: Dogecoin to PKR, USD on December 10, 2022
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Ripple to PKR, USD on December 11, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 11, 2022.
One Ripple (XRP) in Pakistani Rupee (PKR) is Rs81.24 on December 11, 2022 at 02:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs81.24 at closing on December 10, 2022.
The rate of Ripple in US Dollar (USD) is $0.36 on December 11, 2022 at 02:40 PM 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 10, 2022.
READ MORE: Ripple to PKR, USD on December 10, 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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Ripple to PKR, USD on December 11, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 11, 2022.
One Ripple (XRP) in Pakistani Rupee (PKR) is Rs81.24 on December 11, 2022 at 02:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs81.24 at closing on December 10, 2022.
The rate of Ripple in US Dollar (USD) is $0.36 on December 11, 2022 at 02:40 PM 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 10, 2022.
READ MORE: Ripple to PKR, USD on December 10, 2022
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Bitcoin to PKR, USD on December 11, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 11, 2022.
One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs3,860,024.96 on December 11, 2022 at 02:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs3,856,232.72 at closing on December 10, 2022.
The rate of Bitcoin in US Dollar (USD) is $17,166.61 on December 11, 2022 at 02:40 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $17,149.74 at closing on December 10, 2022.
READ MORE: Bitcoin to PKR, USD on December 10, 2022
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Dogecoin to PKR, USD on December 11, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 11, 2022.
One Dogecoin to PKR is Rs21.77 on December 11, 2022 at 02:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs21.72 at closing on December 10, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.10 on December 11, 2022 at 02:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.10 at closing on December 10, 2022.
READ MORE: Dogecoin to PKR, USD on December 10, 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.