Pkrevenue.com

Author: Faisal Shahnawaz

  • Pakistani Rupee to UAE Dirham on March 31, 2022

    Pakistani Rupee to UAE Dirham on March 31, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on March 31, 2022:

    Buying: Rs 49.40 to the UAE Dirham

    Selling: Rs 50.30 to the UAE Dirham

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 11:05 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

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

    Pakistani Rupee to UAE Dirham on March 30, 2022
  • Dollar hits new high PKR 183.50 in interbank early trade

    Dollar hits new high PKR 183.50 in interbank early trade

    KARACHI: The US dollar crossed 183 mark against the Pakistan Rupee (PKR) for the first time in the history and is traded at Rs183.50 on Thursday.

    The rupee so far fell 86 paisas against the dollar from previous day’s closing of Rs182.64 in the interbank foreign exchange market.

    READ MORE: Rupee falls to new historic low to dollar at 182.64

    Currency experts said political uncertainty and repayment against external debt kept the rupee under pressure.

    READ MORE: Rupee deteriorates record low to dollar at 182.34

    Large external payments against foreign debts depressed the rupee value. Pakistan’s foreign exchange reserves fell by $2.28 billion to $21.44 billion by March 18, 2022 as compared with $23.72 billion as of February 4, 2022. The foreign exchange reserves of the country hit record high at $27.23 billion on August 27, 2021.

    READ MORE: Dollar jumps to new record high at PKR 182.19

    The ballooning current account deficit escalated the dollar value. Pakistan’s current account deficit ballooned to $12 billion during first eight months (July – February) 2021/2022 against a surplus of $994 million in the corresponding months of the last fiscal year. Although the current account deficit narrowed to $545 million in February 2022 as compared with the deficit of $2.53 billion in January 2022, scheduled external repayments are still a threat to balance of payment.

    READ MORE: Dollar continues historic journey; tops at PKR 181.78

  • Bitcoin to Pak Rupee on March 31, 2022

    Bitcoin to Pak Rupee on March 31, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) against the Pakistani Rupee (PKR) stood at Rs8,569,930.89 as of 9:33 AM Pakistan Standard Time (PST) on March 31, 2022, reflecting the latest open market figures. This value marks a slight decline compared to the closing rate of Rs8,617,369.87 recorded on March 30, 2022.

    (more…)
  • Ripple to Pak Rupee on March 31, 2022

    Ripple to Pak Rupee on March 31, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs157.21 on March 31, 2022 at 9:11 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs156.71 at closing on March 30, 2022.

    The rate of Ripple in US Dollar (USD) is $0.86 on March 31, 2023 at 9:11 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.86 at closing on March 30, 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 Pak Rupee on March 30, 2022
  • Dogecoin to Pak Rupee on March 31, 2022

    Dogecoin to Pak Rupee on March 31, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs26.37 on March 31, 2022 at 8:59 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs25.76 at closing on March 30, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.14 on March 31, 2022 at 8:59 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.14 at closing on March 30, 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 Pak Rupee on March 30, 2022
  • SBP issues KIBOR rates on March 30, 2022

    SBP issues KIBOR rates on March 30, 2022

    KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the Karachi Interbank Offered Rates (KIBOR) as of March 30, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week9.8810.38
    2 – Week10.0710.57
    1 – Month10.9311.43
    3 – Month11.6811.93
    6 – Month12.2612.51
    9 – Month12.2812.78
    1 – Year12.3212.82
    SBP issues KIBOR rates on March 29, 2022
  • Pakistan equities shed 101 points on political uncertainty

    Pakistan equities shed 101 points on political uncertainty

    KARACHI: Pakistan equities lost 101 points on Wednesday due to rising political uncertainty and devaluation of local currency against dollar.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,338 points from previous day’s closing of 44,439 points, down by 101 points.

    READ MORE: Pakistan stocks gain 505 points amid buying activity

    Analysts at Arif Habib Limited said that the index stayed in the red territory during the day due to political unrest and further PKR devaluation against dollar.

    Main board activity remained dull. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.

    READ MORE: Equities gain 382 points amid easing political tensions

    The analysts at Topline Securities said that Pakistan equities closed negative where benchmark KSE-100 Index settled at 44,338 level (down 0.23 per cent).

    Rising political uncertainty over no-confidence motion against prime minister led the market to open sideways where market made an intraday low of 463 points, however some recovery has been witnessed in second half of the session.

    READ MORE: Weekly Review: political unrest may impact market

    Sectors contributing to the performance include E&P’s (-47.2 points), Fertilizer (-23.9 points), OMC’s (-16.3 points) and Investment Banks (-10.9 points).

    Volumes increased from 268.9 million shares to 344.1 million shares (+28.0 per cent DoD). Average traded value increased by 8.4 per cent to reach US$ 42.6 million as against US$ 39.3 million.

    Stocks that contributed significantly to the volumes are KEL, GGL, WTL, PAELR3 and TREET.

    READ MORE: Pakistan stocks gain 319 points amid volatile trading

  • Nisab of Zakat fixed at Rs88,927

    Nisab of Zakat fixed at Rs88,927

    KARACHI: The federal government on Wednesday announced an amount of Rs88,927 as deduction of Zakat from bank accounts and deposits on the first day of the holy month of Ramzan.

    According to a notification issued by the Cabinet Secretariat the administrator General Zakat had notified the ‘Nisab of Zakat’ for the Zakat Year 1442-43 AH at Rs88,927.

    No deduction of Zakat at source shall be made, in case the amount standing to the credit of an account in respect of the assets mentioned in column 2 of Serial No. 1 of the first schedule of Zakat and Ushr Ordinance, 1980, is less than Rs88,927 on the first day of Ramzan ul Mubarak 1443 AH.

    First day of Ramzan has already been notified as the deduction date likely to fall on April 3 or 4, 2022 (subject to appearance of the moon) for deduction of Zakat from saving bank accounts, profit and loss sharing accounts and other similar accounts having credit balance of Rs88,927.

    All the Zakat collection controlling agencies have been asked to deduct the Zakat accordingly.

    READ MORE: Nisab of Zakat fixed at Rs80,933

  • Rupee falls to new historic low to dollar at 182.64

    Rupee falls to new historic low to dollar at 182.64

    KARACHI: The Pakistan Rupee (PKR) made new record low against dollar at Rs182.64 on Wednesday.

    The rupee fell by 30 paisas against the dollar from previous day’s closing of Rs182.34 in the interbank foreign exchange market.

    READ MORE: Rupee deteriorates record low to dollar at 182.34

    Currency experts said that the dollar demand remained high during the day due to falling foreign exchange reserves, volatiles commodity prices in international markets and political uncertainty.

    READ MORE: Dollar jumps to new record high at PKR 182.19

    Large external payments against foreign debts depressed the rupee value. Pakistan’s foreign exchange reserves fell by $2.28 billion to $21.44 billion by March 18, 2022 as compared with $23.72 billion as of February 4, 2022. The foreign exchange reserves of the country hit record high at $27.23 billion on August 27, 2021.

    READ MORE: Dollar continues historic journey; tops at PKR 181.78

    The ballooning current account deficit escalated the dollar value. Pakistan’s current account deficit ballooned to $12 billion during first eight months (July – February) 2021/2022 against a surplus of $994 million in the corresponding months of the last fiscal year. Although the current account deficit narrowed to $545 million in February 2022 as compared with the deficit of $2.53 billion in January 2022, scheduled external repayments are still a threat to balance of payment.

    READ MORE: Dollar maintains record high against PKR at Rs181.73

  • Date extended for encashment of bearer prize bonds

    Date extended for encashment of bearer prize bonds

    KARACHI: The federal government has extended the last date for converting or exchanging the bearer prize bonds up to June 30, 2022.

    The last date for encashment of the bearer prize bonds was March 31, 2022, the State Bank of Pakistan (SBP) said on Wednesday.

    Through a circular, the SBP announced the extension in last date for Encashment/Conversion/Redemption of Rs.40,000/-, Rs.25,000/-, Rs.15,000/- and Rs.7500/- Denomination National Prize Bonds Withdrawn from Circulation.

    Earlier, the last date for exchanging the bearer prize bonds was March 31, 2022.

    READ MORE: SBP directs banks to accept bearer prize bonds

    The SBP instructed the banks to accept requests for encashment / conversion / redemption of cited denominations from general public till June 30, 2022.

    “Further, the banks shall submit branch / region wise consolidated data of cited denomination national prize bonds held by them on last date i.e.June 30, 2022 latest by July 04, 2022, as per the instructions stipulated in aforementioned CMD Circulars.

    READ MORE: Prize bond (bearer) holders given 3 months to document

    The finance ministry launched the withdrawal of the unregistered prize bonds in a phased manner. The federal government on June 24, 2019, announced to discontinue the circulation of Rs40,000 denomination national prize bonds. Similarly, on December 10, 2020, the government announced to discontinue the circulation of Rs25,000 denomination prize bonds. In April 2021, the finance ministry announced that national prize bonds of denominations Rs7,500 and Rs15,000 shall not be sold.

    Since June 2019 the government repeatedly extended the date for exchanging the bearer bonds. Previously, the last date for exchanging the unregistered bonds was December 31, 2021.

    READ MORE: History of Prize Bonds in Pakistan

    The government is aiming to document the bearer bonds so the exchanging the unregistered bond with cash has been prohibited. The ministry of finance issued various procedure to convert the bond without exchanging with the cash.

    The bonds can be converted to premium prize bonds (registered) of denomination of Rs25,000 and Rs40,000 (subject to the adjustment of differential amount) through 16 field offices of State Bank of Pakistan (SBP) Banking Services Corporation (BSC), and branches of six commercial banks i.e. National Bank of Pakistan, Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited, and Bank Alfalah Limited.

    READ MORE: Income tax on prize bonds, lottery winning

    The bonds can be replaced with Special Saving Certificates/Defence Saving Certificates through the 16 field offices of SBP Banking Services Corporation, authorized commercial banks, and the National Savings Center.

    The bonds will only be encashed by transferring the proceeds to the bonds holder’s bank account through the 16 field offices of SBP BSC as well as the authorized commercial bank branches and to the Saving Accounts at National Savings Centers.