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Author: Faisal Shahnawaz

  • Pakistan stocks fall 148 points in lackluster trading

    Pakistan stocks fall 148 points in lackluster trading

    KARACHI: Pakistan stocks fell by 148 points on Wednesday due to lack of participation by investors during the day.

    The benchmark KSE-100 of Pakistan Stock Exchange (PSX) ended at 42,007 points from previous day’s closing of 42,155 points, showing a decline of 148 points.

    READ MORE: Pakistan stocks end down on profit taking

    Analysts at Arif Habib Limited said that a negative session was witnessed at PSX on Wednesday, as lack of participation led the index to trade in red zone for majority of trading session.

    Volumes remained dry in the main board whereas, 3rd tier stocks continued to remain board leaders. Technology sector remained in the limelight.

    READ MORE: Stocks gain 126 points on positive sentiments

    Sectors contributing to the performance include Technology (-218.5), Cement (-39.2 points), Chemical (-11.6 points), Vanaspati & Allied Industries (-10.9 points) and E&P’s (-7.8 points).

    READ MORE: Weekly Review: stocks likely to move in green zone

    Volumes decreased from 304.8 million shares to 238.7 million shares (-21.7 per cent DoD). The average traded value also decreased by -20.3 per cent to USD 36.0 million as against USD 45.21 million.

    Stocks that contributed significantly to the volumes are KEL, WTL, TELE, PRL and CNERGY.

    READ MORE: Pakistan stocks end down in mixed trading session

  • Dollar ends 13-day losing streak; ends at PKR 217.88

    Dollar ends 13-day losing streak; ends at PKR 217.88

    KARACHI: The US dollar ended its losing streak against the Pakistani Rupee (PKR) in interbank foreign exchange market on Wednesday.

    The exchange rate ended with fall of nine paisas in rupee value to end at PKR 217.88 to the dollar from previous day’s closing of PKR 217.79 in the interbank foreign exchange market.

    READ MORE: PKR maintains winning streak to dollar for 13th straight session

    A day earlier, the local currency gained PKR 21.92 against the dollar during the last twelve straight sessions.

    The exchange rate reached to near record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 217.79 on October 10, 2022. Dar recently claimed that the actual value of the dollar is below PKR 200 and he vowed to bring it down.

    Experts further said that tight monitoring of the State Bank of Pakistan (SBP) on foreign currency transactions helped the rupee to make gain.

    READ MORE: Rupee gains for 12th straight session; dollar ends at PKR 217.97

    Recently, the SBP had amended foreign exchange regulations with an objective to promote documentation and transparency in the foreign exchange transactions between exchange companies.

    In terms of revised regulations, it has been made mandatory for Exchange Companies, Franchises of Exchange Companies and Exchange Companies of ‘B’ Category to settle Pakistan Rupee consideration of all foreign currency purchase/ sale transactions conducted among themselves through their bank accounts.

    Besides, stress has been laid on ensuring that CCTV Systems of Exchange Companies and Exchange Companies of ‘B’ Category should be functional at all times (i.e. 24 hours a day and 7 days a week) as required under existing regulations.

    READ MORE: Rupee gains for 11th session; dollar falls to PKR 219.92

    However, in order to ensure transparency, it has been advised that Exchange Companies and Exchange Companies of ‘B’ Category shall not carry out any business activity during the period in which CCTV system is non-functional at any of their outlet for any reason, including technical faults, until the functionality of the CCTV system is restored.

    Moreover, minimum preservation period of video recording through CCTV system has been enhanced from two to six months or until the inspection of the company by SBP, whichever is earlier.

    READ MORE: Dollar weakens by PKR 17.77 in 10 sessions amid tight monitoring on transactions

    This would ensure availability of CCTV recording for audit/inspection purposes, according to the SBP.

    Meanwhile, the international oil prices also softened which helped the rupee to make gains.

    The local currency witnessed the historic low at PKR 239.94 to the dollar on July 28, 2022.

  • State Bank’s foreign exchange rates – October 12, 2022

    State Bank’s foreign exchange rates – October 12, 2022

    The State Bank of Pakistan (SBP) released the foreign exchange rates for October 12, 2022, shedding light on the buying and selling rates of various foreign currencies against the Pakistan Rupee (PKR).

    (more…)
  • Bitcoin to PKR, USD on October 12, 2022

    Bitcoin to PKR, USD on October 12, 2022

    KARACHI: The exchange rate of Bitcoint (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on October 12, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,153,148.03 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,134,938.00 at closing on October 11, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,098.81 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,045.23 at closing on October 11, 2022.

    READ MORE: Bitcoin to PKR, USD on October 11, 2022

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    Dogecoin to PKR, USD on October 12, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on October 12, 2022.

    One Dogecoin to PKR is Rs13.23 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.05 at closing on October 11, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.06 at closing on October 11, 2022.

    READ MORE: Dogecoin to PKR, USD on October 11, 2022

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    Ripple to PKR, USD on October 12, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on October 12, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs106.33 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs106.43 at closing on October 11, 2022.

    The rate of Ripple in US Dollar (USD) is $0.49 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.49 at closing on October 11, 2022.

    READ MORE: Ripple to PKR, USD on October 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.

  • Ripple to PKR, USD on October 12, 2022

    Ripple to PKR, USD on October 12, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on October 12, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs106.33 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs106.43 at closing on October 11, 2022.

    The rate of Ripple in US Dollar (USD) is $0.49 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.49 at closing on October 11, 2022.

    READ MORE: Ripple to PKR, USD on October 11, 2022

    —————————————————————————

    Bitcoin to PKR, USD on October 12, 2022

    KARACHI: The exchange rate of Bitcoint (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on October 12, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,153,148.03 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,134,938.00 at closing on October 11, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,098.81 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,045.23 at closing on October 11, 2022.

    READ MORE: Bitcoin to PKR, USD on October 11, 2022

    —————————————————————————

    Dogecoin to PKR, USD on October 12, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on October 12, 2022.

    One Dogecoin to PKR is Rs13.23 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.05 at closing on October 11, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.06 at closing on October 11, 2022.

    READ MORE: Dogecoin to PKR, USD on October 11, 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 October 12, 2022

    Dogecoin to PKR, USD on October 12, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on October 12, 2022.

    One Dogecoin to PKR is Rs13.23 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.05 at closing on October 11, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.06 at closing on October 11, 2022.

    READ MORE: Dogecoin to PKR, USD on October 11, 2022

    —————————————————————————–

    Ripple to PKR, USD on October 12, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on October 12, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs106.33 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs106.43 at closing on October 11, 2022.

    The rate of Ripple in US Dollar (USD) is $0.49 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.49 at closing on October 11, 2022.

    READ MORE: Ripple to PKR, USD on October 11, 2022

    —————————————————————————

    Bitcoin to PKR, USD on October 12, 2022

    KARACHI: The exchange rate of Bitcoint (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on October 12, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,153,148.03 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,134,938.00 at closing on October 11, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,098.81 on October 12, 2022 at 10:30 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,045.23 at closing on October 11, 2022.

    READ MORE: Bitcoin to PKR, USD on October 11, 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.

  • Ask Apple launched to facilitate developers

    Ask Apple launched to facilitate developers

    Apple Inc. announced the launch of Ask Apple for developers. The series of interactive Q&As and one-on-one consultation will help in providing the developers to connect directly with Apple experts for insights, support and feedback.

    (more…)
  • Karachi Interbank Offered Rates KIBOR – October 11, 2022

    Karachi Interbank Offered Rates KIBOR – October 11, 2022

    KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as on October 11, 2022.

    (more…)
  • PKR maintains winning streak to dollar for 13th straight session

    PKR maintains winning streak to dollar for 13th straight session

    KARACHI: Pakistani Rupee (PKR) continued its winning streak against the US dollar for 13th straight session on Tuesday.

    The exchange rate recorded 18 paisas gain in the rupee value to end at PKR 217.79 from previous day’s closing of PKR 217.97 in interbank foreign exchange market.

    READ MORE: Rupee gains for 12th straight session; dollar ends at PKR 217.97

    The local currency gained PKR 21.92 against the dollar during the last twelve straight sessions.

    The exchange rate reached to near record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 217.79 on October 10, 2022. Dar recently claimed that the actual value of the dollar is below PKR 200 and he vowed to bring it down.

    Experts further said that tight monitoring of the State Bank of Pakistan (SBP) on foreign currency transactions helped the rupee to make gain.

    READ MORE: Rupee gains for 11th session; dollar falls to PKR 219.92

    Recently, the SBP had amended foreign exchange regulations with an objective to promote documentation and transparency in the foreign exchange transactions between exchange companies.

    In terms of revised regulations, it has been made mandatory for Exchange Companies, Franchises of Exchange Companies and Exchange Companies of ‘B’ Category to settle Pakistan Rupee consideration of all foreign currency purchase/ sale transactions conducted among themselves through their bank accounts.

    Besides, stress has been laid on ensuring that CCTV Systems of Exchange Companies and Exchange Companies of ‘B’ Category should be functional at all times (i.e. 24 hours a day and 7 days a week) as required under existing regulations.

    READ MORE: Dollar weakens by PKR 17.77 in 10 sessions amid tight monitoring on transactions

    However, in order to ensure transparency, it has been advised that Exchange Companies and Exchange Companies of ‘B’ Category shall not carry out any business activity during the period in which CCTV system is non-functional at any of their outlet for any reason, including technical faults, until the functionality of the CCTV system is restored.

    Moreover, minimum preservation period of video recording through CCTV system has been enhanced from two to six months or until the inspection of the company by SBP, whichever is earlier.

    READ MORE: PKR recovers against dollar for ninth consecutive session

    This would ensure availability of CCTV recording for audit/inspection purposes, according to the SBP.

    Meanwhile, the international oil prices also softened which helped the rupee to make gains.

    The local currency witnessed the historic low at PKR 239.94 to the dollar on July 28, 2022.

  • State Bank’s foreign exchange rates – October 11, 2022

    State Bank’s foreign exchange rates – October 11, 2022

    The State Bank of Pakistan (SBP) has released the foreign exchange rates for October 11, 2022, presenting the buying and selling rates of various foreign currencies against the Pakistan Rupee (PKR).

    (more…)