KARACHI: On Wednesday, the US dollar gained 21 paisas against the Pakistani Rupee (PKR) in response to soaring international oil prices, which surpassed $113 per barrel.
(more…)Author: Faisal Shahnawaz
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Customers’ exchange rates on March 02, 2022
Karachi, March 02, 2022: The State Bank of Pakistan (SBP) has released the official exchange rates for March 02, 2022, providing a comprehensive view of currency values against the Pakistani Rupee.
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Bitcoin to Pak Rupee on March 02, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs7,802,448.13 on March 02, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs7,842,293.74 on March 01, 2022.
The rate of Bitcoin in US Dollar (USD) is $43,931.19 on March 02, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $44,155.54 on March 01, 2022.
Disclaimer: All data and information is 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 Pak Rupee on March 02, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs136.40 on March 02, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs139.75 on March 01, 2022.
The rate of Ripple in US Dollar (USD) is $0.77 on March 02, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.79 on March 01, 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.
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Dogecoin to Pak Rupee on March 02, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs23.72 on March 02, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs23.75 on March 01, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.13 on March 02, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.13 on March 01, 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.
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SBP issues KIBOR rates on March 01, 2022
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as of March 01, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 9.73 10.23 2 – Week 9.79 10.29 1 – Month 9.88 10.38 3 – Month 10.37 10.62 6 – Month 10.78 11.03 9 – Month 10.83 11.33 1 – Year 10.87 11.37 -
Stocks stay bullish on major relief package
KARACHI: Pakistan’s stocks gained 343 points on Tuesday owing to major relief package announced by Prime Minister Imran Khan a day earlier.
The benchmark KSE-100 index of Pakistan closed at 44,804 points as against previous day’s closing of 44,461 points, showing an increase of 343 points.
READ MORE: Stocks gain 477 points amid negative sentiments
Analysts at Arif Habib Limited said that the market stayed in the bullish zone throughout the day due to relief package worth 0.54 per cent of the GDP announced by the prime minister.
The relief package for the masses to curb the impact of inflation and enhance support to the most vulnerable class of the society for the next four months till budget.
READ MORE: Pakistan Stocks gain 154 points, follow global markets
Moreover, headline inflation for month of February 2022 clocked-in at 12.24 per cent YoY compared to 8.70 per cent in February 2021 and 12.96 per cent in January 2022, respectively.
The YoY uptick in consumer price index (CPI) was led by Food (14.73 per cent YoY), Transport (25.04 per cent YoY), Housing (8.99 per cent YoY), Clothing & Footwear (9.67 per cent YoY), Miscellaneous (10.07 per cent YoY), Restaurants (14.39 per cent YoY), House Hold Equipment (13.44 per cent YoY), Health (10.11 per cent YoY) and Alcoholic Beverages & Tobacco (2.13 per cent YoY).
READ MORE: Pakistan stocks shed 1,302 points on Russia-Ukraine war
On a MoM basis, CPI reading increased by 1.15 per cent. While Food and Transport index kept MoM inflation up, housing index declined by 1.56 per cent MoM mainly due to decrease in electricity charges.
Sectors contributing to the performance include E&P (+145.8 points), Technology (+100.6 points), Chemicals (+34.7 points), Power (+20.6 points) and Banks (+16.1 points).
READ MORE: Equity market gains 121 points in volatile trading
Volumes increased from 208.1 million shares to 309.3 million shares (+48.6 per cent DoD). Traded value also increased by 72.3 per cent to reach US$ 58.9 million as against US$ 34.2 million.
Stocks that contributed significantly to the volumes include WTL, TRG, TELE, TPLP and TPL.
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Customers’ exchange rates on March 01, 2022
Karachi, March 01, 2022: The State Bank of Pakistan (SBP) has unveiled the official exchange rates for March 01, 2022, providing a comprehensive overview of currency values against the Pakistani Rupee.
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Dollar eases by six paisas to PKR
KARACHI: The US dollar eased by six paisas against the Pak Rupee (PKR) on Tuesday due to foreign inflows seen during the day.
The rupee ended at Rs177.41 to the dollar from previous day’s closing of Rs177.47 in the interbank foreign exchange market.
READ MORE: Rupee dips 36 paisas to dollar in interbank
Currency experts said that inflows in the shape of export receipts and foreign remittances were also seen during the day. They however said that rising oil prices in the international markets may put pressure on the local currency.
The oil prices in the international markets remained volatile since Russia launched attacks on Ukraine.
Pakistan is one of the major importers of petroleum products. The import bill of petroleum group recorded an increase of 107 per cent to $11.7 billion during first seven months of the current fiscal year as compared with $5.64 billion in the corresponding months of the last fiscal year.
READ MORE: Rupee plunges 72 paisas to dollar on Russia War
Due to rising import payments, the current account deficit of the country is also widening. The Current Account Deficit (CAD) widened to its highest ever monthly deficit of $2.6 billion in January 2022 ($1.9 billion in December 2021) taking CAD of $11.6 billion during the first seven months of the current fiscal year.
READ MORE: PKR slides 23 paisas to dollar on Russia-Ukraine war
The external payments also depleting foreign exchange reserves. The liquid foreign exchange reserves of Pakistan declined by $264 million to $23.226 billion by the week ended February 18, 2022. The foreign exchange reserves of the country were $23.49 billion by the week ended February 11, 2022. The official reserves of the State Bank fell by $289 million to $16.807 billion by the week ended February 18, 2022 as compared with $17.096 billion a week ago.
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LTO Karachi surpasses Rs1 trillion mark in 8MFY22
The Large Taxpayers Office (LTO) Karachi, the leading revenue collection arm of the Federal Board of Revenue (FBR), has achieved a monumental milestone by surpassing the ambitious tax collection target of Rs1 trillion in just eight months of the current fiscal year 2021/2022 (8MFY22).
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