Pkrevenue.com

Author: Faisal Shahnawaz

  • Rupee continues falling spree; dollar at Rs183.48

    Rupee continues falling spree; dollar at Rs183.48

    KARACHI: The Pakistan Rupee (PKR) witnessed major fall of 84 paisas against the dollar on Thursday to continue its spree of making new historic lows.

    The rupee ended Rs183.48 to the dollar from the last 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

    The rupee has fallen non-stop against the dollar for the last 13 trading sessions. The local currency recorded Rs178.51 at interbank closing on March 11, 2022 and since then the dollar run was unabated.

    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: 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.

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

    The foreign exchange reserves of the country hit record high at $27.23 billion on August 27, 2021.

    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.

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

    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.

  • Customers’ exchange rates on March 31, 2022

    Customers’ exchange rates on March 31, 2022

    KARACHI, March 31, 2022 – The State Bank of Pakistan (SBP) has issued the exchange rates for customers on Thursday, March 31, 2022.

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  • Supernet set to raise Rs475 million through initial offering

    Supernet set to raise Rs475 million through initial offering

    KARACHI: Supernet Limited has planned to raise Rs475 million through Initial Offering of its 18.81 per cent of post-offering share capital.

    The capital being raised by listing the firm on the GEM Board of the Pakistan Stock Exchange (PSX) will consist of fresh equity of Rs275 million in Supernet and ‘Offer for Sale’ by Telecard Limited of Rs200 million.

    Supernet is the first technology company to be listed on GEM Board of PSX.

    READ MORE: Supernet wins ZTBL projects worth Rs450 million

    The issue consists of 21,111,121 Ordinary Shares, representing 18.81 per cent of the total post-offering paid up capital of Supernet of face value of Rs10 each.

    The entire issue will be offered through Book Building on April 12-13 for which registration will Start from April 7 at a Floor Price of Rs22.50 per share, including premium of Rs12.50 per share. The upper limit of the price band will not be more than 40 per cent of the Floor Price.

    READ MORE: Supernet, Avara awarded project for supply, maintenance

    Super Net is being offered at FY22 PE of 6.7 vs Avg. IT sector PE of 22X, offering significant value to the investors.  Out of the total issue, 8,888,889 shares are being offered as Offer for Sale by Telecard and 12,222,232 shares are being offered as fresh equity.

    Founded in 1995, it is one of the country’s leading telecommunications service provider and systems integrator. The company offers a full portfolio of local-to-global integrated communications infrastructure solutions to telecoms, defense, private firms and government sectors/customers and has a pool of highly trained and experienced human resource in wide range of communication and IT technologies spread across Pakistan in more than 200 cities and towns.

    READ MORE: Supernet awarded telecom projects worth Rs100 million

    Recently, Supernet Group is aggressively expanding into Cyber Security, Power Solution and IT & Infrastructure Solutions business. The proceeds from listing will be utilized to finance the expansion plan.

    For expansion into new business segments, SNL has set up two new subsidiaries: Supernet Secure Solutions Private Limited and Supernet Infrastructure Solutions Private Limited . Another subsidiary, Phoenix Global (Supernet Global Solutions), is a UAE based company that offers a wide range of IT & Communication solutions to its international clients. Supernet’s clientele include major banks, mobile operators, leading MNCs, government and defence institutions, etc.

    READ MORE: Suprenet gets project for optic fiber supply

  • 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.

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  • 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