Pkrevenue.com

Author: Faisal Shahnawaz

  • Ripple to Pak Rupee on March 01, 2022

    Ripple to Pak Rupee on March 01, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs137.84 on March 01, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs128.13 on February 28, 2022.

    The rate of Ripple in US Dollar (USD) is $0.78 on March 01, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.72 on February 28, 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 February 27, 2022
  • Dogecoin to Pak Rupee on March 01, 2022

    Dogecoin to Pak Rupee on March 01, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs23.50 on March 01, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs21.96 on February 28, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.13 on March 01, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.12 on February 28, 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 February 28, 2022
  • PM Imran reduces, freezes POL prices

    PM Imran reduces, freezes POL prices

    ISLAMABAD: Prime Minister Imran Khan on Monday announced reduction in prices of petroleum products and electricity tariff and further announced to freeze the reduced rates till upcoming federal budget.

    The Prime Minister provided the relief by slashing prices of petroleum and electricity to provide massive relief to the people.

    In his address to the nation on Monday, he said prices of petrol and diesel will be reduced by ten rupees per litre and electricity by five rupees per unit.

    The Prime Minister also announced to award internship to all jobless graduates worth 30,000 rupees per month. He said 26,000 scholarships, costing 38 billion rupees will be given to students.

    He said his recent visits to China and Russia will have far reaching impact on country’s economy.

    The Prime Minister said we are going to import two million tons of wheat and gas from Russia, while we have better understanding on the second phase of China-Pakistan Economic Corridor.

    Imran Khan said he believes in an independent policy in the best interest of the people of Pakistan.

    He urged the people to not vote for a party, whose leader is involved in corruption as such parties cannot pursue an independent foreign policy.

    PM Imran, President Putin discuss regional development
  • Pakistan’s e-banking registers sharp increase in 1QFY22

    Pakistan’s e-banking registers sharp increase in 1QFY22

    KARACHI: Pakistan’s e-banking registered sharp growth in the first quarter of the fiscal year 2021/2022, the central bank said on Monday.

    E-banking—defined as transactions conducted via electronic channels (including Real-time Online Branches, ATMs, mobile banking, internet banking, call center banking, POS and e-Commerce), continued to thrive in both volume and value during the quarter under review as it grew by 12 per cent and 16 per cent respectively in Q1-FY22 over the same quarter of FY21.

    The State Bank of Pakistan (SBP) released its first quarterly report of payment systems for the fiscal year 2021-22 today covering the period July – September, 2021. The report shows that Pakistan’s payment ecosystem, especially though digital platforms, continued its brisk pace of growth.

    READ MORE: SBP imposes Rs1.45 billion penalty on 18 banks in 2021

    Two major areas where high adoption in digital payments were witnessed are mobile and internet banking. The number of mobile banking users grew by 4 per cent on quarter over quarter (QoQ) basis, reaching a total of 11.3 million.

    The number of transactions conducted via mobile banking channels was 79.1 million with a value of around PKR 2.2 trillion, showing a QoQ growth of 29 per cent by volume and 36 per cent by value. Internet banking also contributed to the upswing in usage of e-Banking services by registering 31 per cent QoQ growth in internet banking users who conducted 30 million transactions amounting to PKR 1.9 trillion. This amounts to 6 per cent progress in terms of volume and 10 per cent increase in the value of these transactions on QoQ basis.

    READ MORE: SBP imposes penalty of Rs58 million on five banks

    Retail sector continued to show adoption of digital payments. Overall e-Commerce transactions recorded an impressive QoQ growth of 87 per cent by volume and 21 per cent by value, though the number of e-commerce merchants remained almost the same as of the last quarter.

    During the quarter, 12.7 million ecommerce related transactions amounting to Rs22.3 billion were conducted using digital payment channels. Similarly, the number of merchant Point of Sale (POS) machines also increased by 10 per cent QoQ reaching to 79,134 machines in the country.

    These machines processed 28.1 million card-based transactions at merchant locations amounting to almost PKR 134.9 billion which showed QoQ increase of 16.1 per cent by volume and 10.6 per cent by value.

    READ MORE: SBP slaps Rs280 million penalty on National Bank

    As of end-September 2021, there were 46.2 million total cards in circulation which mainly comprised of Debit Cards (64 per cent), Social Welfare Cards (22 per cent), ATM only Cards (10 per cent), Credit Cards (4 per cent), and Prepaid Cards (0.3 per cent). During this quarter, QoQ increase of 5 per cent in volume of paper-based transactions and 3 per cent increase in value of paper-based transactions was also observed which may be attributed to people returning to traditional channels (i.e. branches) as pandemic related restrictions were lifted.

    In Large-value (wholesale) payments segment, transactions processed, during this quarter, through SBP’s Real-time Inter-Bank Settlement Mechanism (PRISM) recorded a total of 1.1 million transactions amounting to PKR 159.1 trillion which is 7 per cent higher than the preceding quarter.

    READ MORE: National Bank under grip of regulatory violations

  • Stocks gain 477 points amid negative sentiments

    Stocks gain 477 points amid negative sentiments

    KARACHI: Pakistan stocks gained 477 points on Monday amid negative sentiments prevailed over rising political noise on Russia-Ukraine war.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 44,461 points as compared with Friday’s closing of 43,984 points, making a gain of 477 points.

    READ MORE: Weekly Review: range bound trading likely

    Analysts at Topline Securities said that the market opened on a negative note on the backdrop of ongoing conflict between Russia and Ukraine and increased political noise, as the index declined to make an intraday low of -339 points (down by 0.77 per cent).

    However some recovery was observed in latter hours of trade, as value investors came in to accumulate near 44,000 index level, as a result index gained to close at 44,461 level (+477 points; up by 1.08 per cent)

    On the corporate announcement front, SEARL disclosed it 2QFY22 earnings where company posted an EPS of Rs. 2.6 (down 6 per cent YoY). The result was higher than expectation due to higher than anticipated other income.

    READ MORE: Pakistan Stocks gain 154 points, follow global markets

    Bank, Cement, Fertilizer and Power sectors’ stocks took the lead today where MEBL, LUCK, ENGRO and HUBC cumulatively added 164 points to the index. On the flip side, COLG, NBP and TRG lost value to weigh down on the index by 36 points.

    Traded volume and value for the day stood at 208 million shares and Rs.6 billion respectively. AGL was today`s volume leader with 15.7 million shares.

    According to the analysts the KSE-100 Index declined by 2 per cent on MoM basis, month of February started on a positive note for the market on account of good corporate announcement and resumption in IMF program, where investor`s felt that corrective economic measures will be taken in line with IMF conditions.

    READ MORE: Pakistan stocks shed 1,302 points on Russia-Ukraine war

    However, market came under pressure in line with international markets on the back of confrontation between Russia and Ukraine, which has now escalated to armed conflict, where Russia has attached Ukraine, resulting in sanctions from US and other western countries.

    This armed conflict in East Europe has triggered increased in commodity prices (crude oil, coal etc.), raising investors` concern with respect to current account deficit and inflation going forward. Investors participation in market reduced during the month, as average traded volume and value for the month of February stood at 226.8 million shares (down by 14 per cent MoM) and Rs.7.3 billion (down by 12 per cent MoM) respectively.

    READ MORE: Equity market gains 121 points in volatile trading

    Major events during the month of February-21 were C/A deficit clocking in at US$2.6 billion (posting highest ever monthly deficit), taking 7MFY22 Current Account Deficit to US$11.6 billion and MSCI Quarterly Index Review, in which there was no change in constituents for Pakistan; MSCI announced that Pakistan is now eligible for MSCI FM 100 index and MSCI FM 15 per cent Country Capped Index as part of the May 2022 Semi-Annual Index Review (SAIR).

  • SBP issues KIBOR rates on February 28, 2022

    SBP issues KIBOR rates on February 28, 2022

    KARACHI: State Bank of Pakistan (SBP) on Monday issued the Karachi Interbank Offered Rates (KIBOR) as of February 28, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week9.7410.24
    2 – Week9.7910.29
    1 – Month9.8810.38
    3 – Month10.3610.61
    6 – Month10.7811.03
    9 – Month10.8111.31
    1 – Year10.8611.36
    SBP issues KIBOR rates on February 25, 2022
  • Rupee dips 36 paisas to dollar in interbank

    Rupee dips 36 paisas to dollar in interbank

    KARACHI: The Pak Rupee (PKR) dipped by 36 paisas against the dollar on Monday owing to higher demand for import payments as the market opened after two weekly holidays.

    The rupee ended Rs177.47 to the dollar from last Friday’s closing of Rs177.11 in the interbank foreign exchange market.

    READ MORE: Rupee plunges 72 paisas to dollar on Russia War

    The rupee depreciated by around Rs1.09 against the dollar during last three trading sessions.

    Currency experts said that the rupee witnessed a decline since Russia launched attack on Ukraine and resultantly oil prices climbing up in the international markets.

    Pakistan is a major importer of petroleum products, the impact is directly seen on the rupee value.

    Besides, the impact of high oil prices and the ballooning current account deficit also pressured the rupee during the day.

    READ MORE: PKR slides 23 paisas to dollar on Russia-Ukraine war

    The country’s Current Account Deficit (CAD) surged 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.

    The rupee was also falling due to ease in foreign exchange reserves of the country.

    READ MORE: PKR gains seven paisas to dollar in interbank

    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.

    READ MORE: Rupee plummets 48 paisas to dollar

  • Customers’ exchange rates on February 28, 2022

    Customers’ exchange rates on February 28, 2022

    Karachi, February 28, 2022: The State Bank of Pakistan (SBP) has issued the official exchange rates for February 28, 2022, offering a snapshot of currency values against the Pakistani Rupee.

    (more…)
  • Bitcoin to Pak Rupee on February 28, 2022

    Bitcoin to Pak Rupee on February 28, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs6,745,912.99 on February 28, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs6,645,292.27 on February 27, 2022.

    The rate of Bitcoin in US Dollar (USD) is $37,946.54 on February 28, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $37,747.83 on February 27, 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.

    Bitcoin to Pak Rupee on February 27, 2022
  • Dogecoin to Pak Rupee on February 28, 2022

    Dogecoin to Pak Rupee on February 28, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs21.96 on February 28, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs21.66 on February 27, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.12 on February 28, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.12 on February 27, 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 February 27, 2022