Pkrevenue.com

Author: Faisal Shahnawaz

  • Stocks gain 138 points on narrowing trade deficit

    Stocks gain 138 points on narrowing trade deficit

    KARACHI: The stock market gained 138 points on Tuesday owing to a contraction in trade deficit on a monthly basis.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 47,113 points from the previous day’s closing of 46975 points.

    Analysts at Topline Securities said that bullish momentum continued at PSX as well in the backdrop of improved trade deficit numbers on monthly basis, significant decline in international coal prices and anticipation of agreement between IMF and Government of Pakistan in the prevailing week as announced by the finance minister.

    Market opened on a positive note and made an intraday high at 47,315 level (up 340 points; +0.72 per cent) before closing at 47,113 level (up 138 points; +0.29 per cent).

    Initially, the cement sector led the show to celebrate substantial reduction of over 35 per cent in global coal prices but witnessed profit taking in the later half of the day.

    Technology and Banking sector stocks also provided support by adding 156 points cumulatively.

    During the day, total volume and value stood at 306 million shares and Rs8.37 billion, respectively. BYCO was the volume leader with 19.2 million shares traded in it, today.

    Stocks gain 790 points as positive sentiments prevail
  • Dollar falls by 75 paisas against PKR in interbank

    Dollar falls by 75 paisas against PKR in interbank

    KARACHI: The US dollar fell against the Pak Rupee (PKR) by 75 paisas on Tuesday owing to positive sentiments prevailing in the foreign currency market.

    The rupee ended at Rs170.54 to the dollar from the previous day’s closing of Rs171.29 in the interbank foreign exchange market.

    The rupee is continuously making gain against the dollar after the announcement of Saudi Arabia to support Pakistan in the balance of payment.

    The rupee hit the historic low at Rs175.27 on October 26, 2021.

    Saudi Arabia last week announced an additional support of $3 billion to Pakistan for building its foreign exchange reserves. The additional financial support is besides a $1.2 billion dollars deferred oil facility to Pakistan to help its balance of payment issues, an official statement said.

    The local currency fell by Rs13.00 or 8.25 per cent from June 30, 2021 closing of Rs157.54 to the closing of Rs170.54 on November 2, 2021.

    Dollar ends down to Rs171.29 in interbank
  • KIBOR rates on November 02, 2021

    KIBOR rates on November 02, 2021

    KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the following Karachi Interbank Offered Rates (KIBOR) on November 02, 2021.

     TenorBIDOFFER
    1 – Week7.247.74
    2 – Week7.267.76
    1 – Month7.307.80
    3 – Month8.078.32
    6 – Month8.548.79
    9 – Month8.759.25
    1 – Year8.879.37
    KIBOR rates on November 01, 2021
  • SBP issues customers exchange rates for November 02

    SBP issues customers exchange rates for November 02

    KARACHI: The State Bank of Pakistan (SBP) on Tuesday issued customers’ exchange rates for November 02, 2021. The exchange rate is on the basis of weighted average rates of commercial banks.

    The SBP said the data is compiled and disseminated for information only.

    These exchange rates are estimates that quoted by various commercial banks to their clients.

    The banks provide their indicative exchange rates for commercial transactions with customers.

    CURRENCYBUYINGSELLING
    AED46.352146.4635
    AUD127.3076127.6078
    CAD137.3389137.6593
    CHF187.1194187.5691
    CNY26.620526.6801
    EUR197.4940197.9676
    GBP232.2738232.8393
    JPY1.49681.5004
    SAR45.367145.4746
    USD170.1377170.5605
    SBP issues customers exchange rates for November 01
  • Pakistan’s open market exchange rates on November 02

    Pakistan’s open market exchange rates on November 02

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on November 02, 2021 (The rates are updated at 09:45 AM Pakistan Standard Time):

     CurrencyBuyingSelling
     Australian Dollar (AUD)126.5128
     Bahrain Dinar (BHD)386.75388.50
    Canadian Dollar (BHD)137138.5
     China Yuan (BHD)23.7523.90
     Danish Krone (DNK)23.4523.75
    Euro (EUR)196198
     Hong Kong Dollar (HKD)16.716.95
     Indian Rupee (INR)2.032.1
     Japanese Yen (JPY)1.411.44
     Kuwaiti Dinar (KWD)481.7484.2
     Malaysian Ringgit (MYR)36.4536.8
    NewZealand $ (NZD)96.4597.15
     Norwegians Krone (NOK)17.5017.75
     Omani Riyal (OMR)392.7394.7
     Qatari Riyal (QAR)39.9040.50
     Saudi Riyal (SAR)4545.5
     Singapore Dollar (SGD)125126.5
     Swedish Korona (SEK)18.518.75
     Swiss Franc (CHF)159.9160.8
     Thai Bhat (THB)4.84.9
     U.A.E Dirham (AED)47.548
     UK Pound Sterling (GBP)233.5236
     US Dollar (USD)170.9172.3

    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.

    Pakistan’s open market exchange rates on November 01
  • SBP rejects reports of financial losses in cyber attack

    SBP rejects reports of financial losses in cyber attack

    KARACHI: State Bank of Pakistan (SBP) has strongly rejected the media reports of financial losses or data stolen in the recent cyber attack.

    In a tweet on Monday, the SBP said some fake news regarding cyber security attack on banks is in circulation including remarks attributed to Chief Spokesman Abid Qamar.

    According to these fake news, nine banks have been affected by the attack and that money has been withdrawn and data stolen.

    “SBP rejects these news [reports].”

    No bank, other than the National Bank of Pakistan (NBP), has faced a cyber attack.

    “Further, no financial loss or data breach has been observed so far,” the SBP added.

    The SBP is monitoring the situation closely and it will share any update or information about the incident through its official channels, according to the tweet.

    Earlier, on October 30, 2021, the SBP in another tweet stated that the NBP had reported a cybersecurity-related incident that is being investigated. “NBP has not observed any data breach or financial loss. No other bank has reported any such incidence,” the SBP said adding it was monitoring the situation closely to ensure the safety and soundness of the banking system.

    FBR defers digital payment provision for one month
  • Stocks gain 790 points as positive sentiments prevail

    Stocks gain 790 points as positive sentiments prevail

    KARACHI: Pakistan’s stocks gained 790 points on Monday owing to successful negotiations between the government and the banned outfit.

    The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 46,975 points from last Friday’s closing of 46,185 points.

    Analysts at Topline Securities said that Pakistani equities started the week on a positive note and closed the day at 46,946.21.

    Sentiments turned positive as the government announced on Sunday that it had reached an agreement with Tehreek-e-Labbaik Pakistan (TLP) to end a 10-day standoff with the latter.

    Sentiments were further buoyed after Prime Minister Imran Khan rejected the Oil and Gas Regulatory Authority (OGRA) and Finance Ministry’s proposals to increase the prices of petroleum products.

    Slight profit-taking was witnessed near the close of the session after the monthly CPI clocked in at 9.2 per cent YoY for the month of October 2021, which was above market expectations.

    The total volume and value traded in the KSE All Share Index clocked in at 430.01 million shares and Rs14.78 billion respectively.

    The volume leader for today was WTL with 53.86mn shares traded during the session.

    Pakistan Stock Exchange reverts to old trading system
  • Tax exemption from total income during tax year 2022

    Tax exemption from total income during tax year 2022

    the Federal Board of Revenue (FBR) has granted tax exemptions from total income during the tax year 2022 to various classes of individuals and entities under Part 1, Second Schedule of the Income Tax Ordinance, 2001.

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  • KIBOR rates on November 01, 2021

    KIBOR rates on November 01, 2021

    KARACHI: State Bank of Pakistan (SBP) on Monday issued the following Karachi Interbank Offered Rates (KIBOR) on November 01, 2021.

     TenorBIDOFFER
    1 – Week7.267.76
    2 – Week7.277.77
    1 – Month7.307.80
    3 – Month8.028.27
    6 – Month8.468.71
    9 – Month8.759.25
    1 – Year8.839.33
    KIBOR rates on October 29, 2021
  • SBP issues customers exchange rates for November 01

    SBP issues customers exchange rates for November 01

    Karachi, November 01, 2021 – The State Bank of Pakistan (SBP) has released the official exchange rates for customers as of November 01, 2021.

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