Author: Faisal Shahnawaz

  • Price, specs of KIA Stonic 2022 in Pakistan

    Price, specs of KIA Stonic 2022 in Pakistan

    KIA Stonic 2022 was launched in Pakistan on November 08, 2021. The car is introduced with two variants Stonic EX and EX+.

    The ex-factory price of KIA Stonic Ex is Rs4,545,000 and the price of Ex+ is Rs4,848,000. The car is currently assembled by Lucky Motors in Pakistan.

    KIA Stonic EX and KIA Stonic EX+ is equipped with 1.4L petrol engine. The 6-speed automatic transmission engine generates 99 horsepower at 6,000 rpm and 133 Nm at 4,000 rpm to give optimum performance for these front-wheel drive vehicles.

    The car is introduced in variety of colors including, sparkling silver, panthera metal, mercury blue, clear white, cherry black and sporty blue.

    The vehicle features dynamic sporty appearance at the front with 3-dimensional shape of grille, vertical fog lamp housings and integrated full Bi-Function Projection Halogen with powerful Daytime Running Lights.

    The Stonic EX comes with a matte black grille while the EX+ comes with one in piano black. It has LED daytime running lights in all of its variants but the front and rear fog lights are only available in the usual bulb in both variants.

    Both the variants of the vehicle have fuel consumption of 12km/l in the city and 16km/l on the highway.

    The aerodynamic design of all Stonic 2022 variants directs airflow towards the engine and wheel wells for better stability at high speeds. The EX comes with 15-inch alloy rims and the EX+ comes with 16-inch alloy rims.

    Some special functions of KIA Stonic EX+ include the cruise control function, manual speed assist, and the push-button start/stop feature. The EX+ also comes with forward and reverse Park Assist Sensors.

    Both the models have Vehicle Stability Management which ensures maximum security by maintaining the stability and balance of the car.

    The Hill Start Assist further improves the driving experience on steep roads. The Anti-Lock Braking system helps provide better handling on slippery paths.

    The modern feature of single-zone climate control also helps maintain the internal climate of the vehicle stable.

  • Bitcoin to PKR, USD on December 04, 2022

    Bitcoin to PKR, USD on December 04, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 04, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs3,817,070.10 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs3,790,152.15 at closing on December 03, 2022.

    The rate of Bitcoin in US Dollar (USD) is $17,015.73 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $16,895.74 at closing on December 03, 2022.

    READ MORE: Bitcoin to PKR, USD on December 03, 2022

    —————————————————————————

    Dogecoin to PKR, USD on December 04, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 04, 2022.

    One Dogecoin to PKR is Rs23.33 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs22.38 at closing on December 03, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.10 on December 04, 2022 at 03:00 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 03, 2022.

    READ MORE: Dogecoin to PKR, USD on December 03, 2022

    —————————————————————————–

    Ripple to PKR, USD on December 04, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 04, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs81.04 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs81.04 at closing on December 03, 2022.

    The rate of Ripple in US Dollar (USD) is $0.36 on December 04, 2022 at 03:00 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 03, 2022.

    READ MORE: Ripple to PKR, USD on December 03, 2022

    —————————————————————————

    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.

  • Ripple to PKR, USD on December 04, 2022

    Ripple to PKR, USD on December 04, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 04, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs81.04 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs81.04 at closing on December 03, 2022.

    The rate of Ripple in US Dollar (USD) is $0.36 on December 04, 2022 at 03:00 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 03, 2022.

    READ MORE: Ripple to PKR, USD on December 03, 2022

    —————————————————————————

    Bitcoin to PKR, USD on December 04, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 04, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs3,817,070.10 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs3,790,152.15 at closing on December 03, 2022.

    The rate of Bitcoin in US Dollar (USD) is $17,015.73 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $16,895.74 at closing on December 03, 2022.

    READ MORE: Bitcoin to PKR, USD on December 03, 2022

    —————————————————————————

    Dogecoin to PKR, USD on December 04, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 04, 2022.

    One Dogecoin to PKR is Rs23.33 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs22.38 at closing on December 03, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.10 on December 04, 2022 at 03:00 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 03, 2022.

    READ MORE: Dogecoin to PKR, USD on December 03, 2022

    —————————————————————————–

    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.

  • Dogecoin to PKR, USD on December 04, 2022

    Dogecoin to PKR, USD on December 04, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 04, 2022.

    One Dogecoin to PKR is Rs23.33 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs22.38 at closing on December 03, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.10 on December 04, 2022 at 03:00 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 03, 2022.

    —————————————————————————–

    Ripple to PKR, USD on December 04, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 04, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs81.04 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs81.04 at closing on December 03, 2022.

    The rate of Ripple in US Dollar (USD) is $0.36 on December 04, 2022 at 03:00 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 03, 2022.

    —————————————————————————

    Bitcoin to PKR, USD on December 04, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 04, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs3,817,070.10 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs3,790,152.15 at closing on December 03, 2022.

    The rate of Bitcoin in US Dollar (USD) is $17,015.73 on December 04, 2022 at 03:00 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $16,895.74 at closing on December 03, 2022.

    —————————————————————————

    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.

  • Pakistani rupee may devalue to PKR 270 against dollar by year end: report

    Pakistani rupee may devalue to PKR 270 against dollar by year end: report

    KARACHI: Pakistani rupee likely devalue to PKR 270 against the dollar by end of the current fiscal year or June 30, 2023, a report said on Saturday.

    The report released by Topline Securities, predicted that rupee to reach PKR 270 by Jun 2023 with FY23 average of Rs241.

    READ MORE: PKR ends stable to dollar on $3 billion Saudi rollover

    With PKR likely to weaken further, inflationary pressure may persist even after 900bps increase in policy rate by SBP in last 1.5 years, the report added.

    Pakistan currency is going through lot of uncertainty in spite of 21 per cent fall in PKR against US Dollar in 2022 so far.

    Since 2019 Pakistan is following a market-based exchange rate regime. Even though official exchange rate remains in the range of Rs221-225 in recent past, black market rate is trading at a premium of more than 10 per cent at Rs240-250.

    READ MORE: SBP foreign exchange reserves fall to $7.5 billion

    The report said that since State Bank of Pakistan (SBP) has tightened rules for exchange companies, there is hardly any foreign currency supply in the open market except for few currencies available for travelers at a premium of 3 per cent.

    This reemergence of black market with 10 per cent difference, analysts at the Topline Securities believe, cannot continue for long as it has started affecting USD inflows especially inward remittances.

    Given low foreign reserves, it is highly likely that the official exchange rate will adjust to close to black market rate.

    READ MORE: Pakistan official reserves fall to around 1 ½ months import coverage

    As per their base case, the analysts expect PKR to reach Rs270 by Jun 2023 with FY23 average of Rs241. With PKR likely to weaken further, inflationary pressure may persist even after 900 basis points increase in policy rate by SBP in last 1.5 years.

    Now with SBP revising its FY23 estimate of CPI to 21-23 per cent, they think interest rates to remain at higher levels. In Base Case under IMF supervision this tightened monetary policy will continue in 2023 also. Though the analysts expect Consumer Price Index (CPI) inflation coming down to 14 per cent in FY24, but policy rate will remain around 15 per cent.

    READ MORE: PKR remains resilient against dollar, makes 26 paisas gain

  • Weekly Review: Investors to remain cautious after Sukuk repayment

    Weekly Review: Investors to remain cautious after Sukuk repayment

    KARACHI: Investors of Pakistan Stock Exchange (PSX) may cautious during next week after repayment of Sukuk made by the country.

    The repayment has been made under a scenario when foreign exchange reserves are alarmingly low.

    Analysts at Arif Habib Limited expect the market to remain range bound during next week.

    READ MORE: Pakistan stocks lose 243 points on political unrest

    “The extension in the term of Saudi Fund worth $3 billion will provide breather to the concerns regarding external repayments. We do highlight that Pakistan International Sukuk is maturing on December 05, 2022, however, as per SBP, funding against this has already been arranged,” they added.

    The benchmark KSE-100 index of PSX was trading at a PER of 4.1x (2023) compared to Asia Pac regional average of 12.9x while offering a dividend yield of 10.2 per cent versus 2.8 per cent offered by the region.

    READ MORE: Stocks end positive 45 points despite profit taking

    The market commenced on a negative note amid surprising policy rate hike by the SBP (+100 basis points to 16 per cent) on last Friday coupled with political noise, with the index losing 973 points during the intraday.

    The momentum briefly turned green after the SBP received $500 million from Asian Infrastructure Investment Bank. With this, Pak Rupee appreciated during the week against the greenback, gaining by PKR 0.25 | 0.11 per cent WoW to settle at PKR 223.69.

    READ MORE: Pakistan stocks end flat in low volumes

    However, momentum shifted back to the negative zone, after PBS data depicted an increase in trade deficit by 24 per cent MoM in November 2022. In addition to this, the Consumer Price Index (CPI) in November 2022 arrived at 23.84 per cent (up by 0.76 per cent MoM).

    Furthermore, SBP’s foreign exchange reserves data showcased a decline of $327 million. The market closed at 42,150points, shedding 787 points (down by 1.8 per cent WoW).

    Sector-wise negative contributions came from i) Cement (243 points), ii) Technology (101 points), iii) Fertilizer (83 points), iv) E&Ps (70 points) and v) Banks (62 points).

    Whereas, sectors which contributed positively were i) Miscellaneous (82 points), and ii) Power (48 points). Scrip-wise negative contributors were TRG (102 points), LUCK (79 points), CHCC (43 points), MTL (39 points) and MLCF (38 points).

    READ MORE: Stocks gain 302 points on AIIB inflows

    Meanwhile, scrip-wise positive contribution came from PSEL (87 points), HUBC (59 points), SYS (24 points), HBL (12 points) and IBFL (4 points).

    Foreigners buying continued during this week, settling at $6.6 million compared to a net buy of $1.1 million last week. Major buying was witnessed in E&P ($2.0 million), Cement ($1.8 million), and Technology ($1.6 million).

    On the local front, selling was reported by Mutual Funds ($6.3 million) followed by Broker Proprietary Trading ($2.1 million). Average volumes clocked in at 162 million shares (up by 1 per cent WoW) while average value traded settled at $24 million (down by 7 per cent WoW).

  • Bitcoin to PKR, USD on December 03, 2022

    Bitcoin to PKR, USD on December 03, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 03, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs3,795,984.29 on December 03, 2022 at 01:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs3,812,476.60 at closing on December 02, 2022.

    The rate of Bitcoin in US Dollar (USD) is $16,969.08 on December 03, 2022 at 01:40 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $17,042.81 at closing on December 02, 2022.

    —————————————————————————

    Dogecoin to PKR, USD on December 03, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 03, 2022.

    One Dogecoin to PKR is Rs22.17 on December 03, 2022 at 01:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs22.71 at closing on December 02, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.10 on December 03, 2022 at 01:40 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 02, 2022.

    —————————————————————————–

    Ripple to PKR, USD on December 03, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 03, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs80.82 on December 03, 2022 at 01:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs80.82 at closing on December 02, 2022.

    The rate of Ripple in US Dollar (USD) is $0.36 on December 03, 2022 at 01:40 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 02, 2022.

    —————————————————————————

    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.

  • Ripple to PKR, USD on December 03, 2022

    Ripple to PKR, USD on December 03, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on December 03, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs80.82 on December 03, 2022 at 01:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs80.82 at closing on December 02, 2022.

    The rate of Ripple in US Dollar (USD) is $0.36 on December 03, 2022 at 01:40 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 02, 2022.

    READ MORE: Ripple to PKR, USD on December 02, 2022

    —————————————————————————

    Bitcoin to PKR, USD on December 03, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on December 03, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs3,795,984.29 on December 03, 2022 at 01:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs3,812,476.60 at closing on December 02, 2022.

    The rate of Bitcoin in US Dollar (USD) is $16,969.08 on December 03, 2022 at 01:40 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $17,042.81 at closing on December 02, 2022.

    READ MORE: Bitcoin to PKR, USD on December 02, 2022

    —————————————————————————

    Dogecoin to PKR, USD on December 03, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 03, 2022.

    One Dogecoin to PKR is Rs22.17 on December 03, 2022 at 01:40 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs22.71 at closing on December 02, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.10 on December 03, 2022 at 01:40 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 02, 2022.

    READ MORE: Dogecoin to PKR, USD on December 02, 2022

    —————————————————————————–

    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.

  • Dogecoin to PKR, USD on December 03, 2022

    Dogecoin to PKR, USD on December 03, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on December 03, 2022.

    (more…)
  • Banks must ensure financial innovation customer centric: SBP governor

    Banks must ensure financial innovation customer centric: SBP governor

    KARACHI: Banks must ensure that financial innovation is customer centric, which results in faster, safer and cheaper access to financial services, this was stated by Jameel Ahmed, Governor, State Bank of Pakistan (SBP) on Friday.

    The SBP governor was addressing at a conference on on “Role of the Banking Sector in Business and Economic Growth of Pakistan” jointly organized by National Institute of Banking and Finance (NIBAF) in collaboration with the Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan).

    READ MORE: SBP denies restricting import payment for petroleum products

    The SBP governor said banking system can better serve business sector activities by offering smart and innovative digital financial services. He added that, the banks must ensure that financial innovation is customer centric, which results in faster, safer and cheaper access to financial services.

    This full day event focused on the emerging challenges, opportunities and modes of innovation for Banking sector in Pakistan. The event featured keynote addresses and high level policy deliberations for the way forward in Banking and digital financial services spectrum. The panelists, speakers and attendees included key industry market movers, academicians, innovators and banking sector delegates.

    READ MORE: Last date extended up to Dec 31 for exchanging old designed banknotes

    In his address, the governor, reiterated SBP’s resolve to foster a dynamic and stable banking system; geared towards economic welfare of the society. The Governor elaborated that banking sector in Pakistan continues to serve the needs of the economy and make progress on key public policy objectives of financial inclusion, innovation and financing to priority sectors, given the recent challenging global and domestic economic environment.

    The governor remarked that the transformation of banking system from conventional to Shariah compliant mode in the light of decision of Shariah court and the growth in digital technologies offer a huge opportunity for the growth of the banking.

    READ MORE: SBP withdraws NADRA Verisys for activation of dormant bank accounts

    He reaffirmed the assiduous support being offered by SBP in the advancement of digital transformation and unwavering support for Islamic banking transformation in the financial industry.  Governor stressed upon the need for banks to leverage innovative financial solutions in order to achieve a higher level of financial inclusion especially for largely excluded segments; such as women, small businesses and agriculture. He encouraged banks to focus on developing and designing products with the consumers’ interests in mind.

    READ MORE: Pakistan rebuts reports of stopping payments to Google

    During the conference, Shehzad Ahmed Malik, President ICMA expressed that a major challenge for banks across the globe was adapting to innovation. He suggested that for local commercial banks, especially, it is high time that they should make it a priority to adopt new technologies like Artificial Intelligence (AI) and Chatbots which can offer them revolutionary solutions and enable them to compete with the digital banks that would be gradually entering into the banking arena in Pakistan.

    The Conference was attended by senior management of the central bank, banking community and members of ICMA.