KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on November 09, 2022.
(more…)Author: Faisal Shahnawaz
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SBP limits cash up to USD 5,000 taking out of Pakistan
KARACHI: State Bank of Pakistan (SBP) on Tuesday restricted the amount of foreign currency in cash up to equivalent to USD 5,000 from USD 10,000.
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Karachi Interbank Offered Rates KIBOR – November 08, 2022
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as on November 08, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.81 15.31 2 – Week 14.89 15.39 1 – Month 15.03 15.53 3 – Month 15.48 15.73 6 – Month 15.58 15.83 9 – Month 15.61 16.11 1 – Year 15.64 16.14 READ MORE: Karachi Interbank Offered Rates KIBOR – November 07, 2022
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Pakistan equities extend gain amid inflows expectations
KARACHI: Pakistan equities extended gain on Tuesday amid positive sentiments prevailed over expectation of inflows from China and Saudi Arabia.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 42,265 points from previous day’s closing of 42,047 points, showing a gain of 218 points.
READ MORE: Pakistan stocks up 191 points on inflows expectations
Analysts at Topline Securities said that the market continued its yesterday positive momentum over expectation of rollover of $13 billion upcoming debt payment from China and Saudi Arabia further investors also cheered decline in international coal prices which led the Cement sector to remain in limelight.
Meanwhile, the analysts at Arif Habib Limited said that the market witnessed another range bound session during the day.
READ MORE: Weekly Review: investors may cautious over political noise
The market opened in the positive zone continuing its momentum from the previous close as investors’ participation remained sluggish throughout the trading session.
Investors continued value hunting across the board although the cement sector remained in the limelight due to international coal prices plummeting.
READ MORE: Weekly Review: stocks to stay uncertain over PTI’s Long March
Sectors contributing to the performance include Commercial Banks (+97.9 points), Cement (+61.6 points), Fertilizer (+43.2 points), E&P’s (+40.3 points) and Automobile Assembler (+26.7 points).
Volumes decreased from 240.2 million shares to 237.4 million shares (-1.2 per cent DoD). The average traded value increased by 6.5 per cent to $ 26.2 million as against $ 24.6 million.
Stocks that contributed significantly to the volumes are FFL, WTL, CNERGY, HASCOL and HBLTETF.
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PKR ends stable against US dollar in interbank
KARACHI: Pakistani Rupee (PKR) ended stable against the US dollar on Tuesday amid demand of the foreign currency for import and corporate payments.
The exchange rate ended at PKR 221.65 to the dollar from previous day’s closing of PKR 221.66 in the interbank foreign exchange market.
READ MORE: US Dollar falls by 26 paisas to PKR 221.66 in interbank market
Currency experts said that the market witnessed dollar demand during the day for import and corporate payments.
However, tight monitoring of the central bank prevented fall in the rupee value. The experts said that the reports of further tightening of exchange rules had also helped the rupee to stable.
Pakistan foreign exchange reserves have increased by $1.527 billion to $14.69 billion by week ended October 28, 2022 after transfer of funds from Asian Development Bank (ADB).
READ MORE: Rupee inches up against dollar to end PKR 221.92
The country’s foreign exchange reserves increased to $14.689 billion by week ended October 28, 2022 as compared with $13.162 billion a week ago i.e. October 21, 2022.
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 $12.539 billion.
READ MORE: Dollar extends gain to reach PKR 221.95 in interbank
The official foreign exchange reserves of the State Bank also increased by $1.473 billion to $8.913 billion by week ended October 28, 2022 when compared with $7.44 billion a week ago.
Currency experts said that the dollar witnessed appreciation globally following a sharp rise in treasury yields after the Federal Reserve signaled the interest rates would likely spike.
The Fed earlier raised its benchmark funds rate by 75 basis points to 3.75-4 per cent as widely expected.
READ MORE: Dollar gains 78 paisas to end PKR 221.43 in interbank
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Bank holiday restored on November 09, 2022
KARACH: The State Bank of Pakistan (SBP) on Tuesday announced bank holiday on November 09, 2022.
Therefore all commercial banks and financial institutions will remain closed on November 09, 2022 on the occasion of Iqbal Day.
Earlier the federal government issued a circular restoring the holiday on occasion of Iqbal Day.
In continuation of Cabinet Division’s circular No. 10-01/2021-Min-II dated December 17, 2021, it is for information that the Prime Minister is pleased to restore the public holiday on occasion of Allama Iqbal Day i.e. November 9, 2022. Therefore, Wednesday November 09, 2022 shall be observed as public holiday throughout the country.
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State Bank issues foreign exchange rates on November 08, 2022
Karachi, November 08, 2022 – The State Bank of Pakistan (SBP) has disclosed the foreign exchange rates for today, shedding light on the buying and selling prices of various foreign currencies against the Pakistan Rupee (PKR).
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SBP, FIA jointly take action against illegal exchange companies
KARACHI: State Bank of Pakistan (SBP) and Federal Investigation Agency (FIA) have decided to jointly take action against illegal exchange companies.
A statement issued on Tuesday stated that a high-level meeting was held between the SBP governor and the Director General, FIA on November 8, 2022.
READ MORE: US Dollar falls by 26 paisas to PKR 221.66 in interbank market
The meeting took stock of illicit foreign exchange activities and chalked out a comprehensive plan of action against illegal foreign exchange businesses being carried out in the country.
It was agreed during the meeting that concerted joint effort is required to apprehend and implicate the illegal foreign exchange operators and speculators across the country.
READ MORE: Faysal Bank enables donations through WhatsApp
Accordingly, SBP and FIA have jointly initiated action against illegal foreign exchange operators in Pakistan. To this effect, joint teams from SBP and FIA shall identify and take penal/legal action against the perpetrators so as to curb speculation and the grey market.
The teams, while remaining within the legal mandate allowed to them by the relevant laws, would crack down on all illegal foreign exchange operators and businesses across Pakistan.
READ MORE: Pakistan should ban trade in cash dollars: forex association
Banks and Exchange Companies are authorized by the SBP to carry out Foreign Exchange business in Pakistan. Involvement of any person or entity, other than banks and Exchange Companies, in foreign exchange business is illegal under the Foreign Exchange Regulation Act, 1947.
The illegal foreign exchange business also adversely affects the open market exchange rate and increases the gap between the interbank and open market exchange rate.
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Bitcoin to PKR, USD on November 08, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on November 08, 2022.
One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,365,409.22 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,534,157.95 at closing on November 07, 2022.
The rate of Bitcoin in US Dollar (USD) is $19,773.64 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $20,703.70 at closing on November 07, 2022.
READ MORE: Bitcoin to PKR, USD on November 07, 2022
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Ripple to PKR, USD on November 08, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on November 08, 2022.
One Ripple (XRP) in Pakistani Rupee (PKR) is Rs97.14 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs102.34 at closing on November 07, 2022.
The rate of Ripple in US Dollar (USD) is $0.44 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.47 at closing on November 07, 2022.
READ MORE: Ripple to PKR, USD on November 07, 2022
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Dogecoin to PKR, USD on November 08, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on November 08, 2022.
One Dogecoin to PKR is Rs22.79 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs25.18 at closing on November 07, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.10 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.11 at closing on November 07, 2022.
READ MORE: Dogecoin to PKR, USD on November 07, 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 November 08, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on November 08, 2022.
One Ripple (XRP) in Pakistani Rupee (PKR) is Rs97.14 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs102.34 at closing on November 07, 2022.
The rate of Ripple in US Dollar (USD) is $0.44 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.47 at closing on November 07, 2022.
READ MORE: Ripple to PKR, USD on November 07, 2022
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Dogecoin to PKR, USD on November 08, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on November 08, 2022.
One Dogecoin to PKR is Rs22.79 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs25.18 at closing on November 07, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.10 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.11 at closing on November 07, 2022.
READ MORE: Dogecoin to PKR, USD on November 07, 2022
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Bitcoin to PKR, USD on November 08, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on November 08, 2022.
One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,365,409.22 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,534,157.95 at closing on November 07, 2022.
The rate of Bitcoin in US Dollar (USD) is $19,773.64 on November 08, 2022 at 03:58 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $20,703.70 at closing on November 07, 2022.
READ MORE: Bitcoin to PKR, USD on November 07, 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.