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Author: Faisal Shahnawaz

  • Ripple to Pak Rupee on February 18, 2022

    Ripple to Pak Rupee on February 18, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs139.11 on February 18, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs144.95 on February 17, 2022.

    The rate of Ripple in US Dollar (USD) is $0.79 on February 18, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.82 on February 17, 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 17, 2022
  • Dogecoin to Pak Rupee on February 18, 2022

    Dogecoin to Pak Rupee on February 18, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs24.87 on February 18, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs25.91 on February 17, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.14 on February 18, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.15 on February 17, 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 17, 2022
  • Pakistan’s foreign exchange reserves slip to $23.49 bn

    Pakistan’s foreign exchange reserves slip to $23.49 bn

    KARACHI: The total liquid foreign exchange reserves of Pakistan have declined by $231 million to $23.49 billion by week ended February 11, 2022, State Bank of Pakistan (SBP) said on Thursday.

    The foreign exchange reserves of the country were $23.721 billion by week ended February 04, 2022.

    The official reserves of the central bank fell by $241 million to $17.096 billion by week ended February 11, 2022 as compared with $17.337 billion a week ago.

    However, the foreign exchange reserves held by commercial banks slightly increased by $10 million to $6.394 billion by week ended February 11, 2022 as compared with $6.384 billion a week ago.

    Pakistan foreign exchange reserves rise to $23.72 billion
  • Foreign investment surges by 176% during July – January

    Foreign investment surges by 176% during July – January

    KARACHI: The overall inflow of foreign investment in the country recorded 176 per cent during first seven months (July – January) 2021/2022 due to the inflows of debt securities to the tune of $1.057 billion received in January 2022, according to data released by the State Bank of Pakistan (SBP) on Thursday.

    The total foreign investment increased to $1.817 billion during the first seven months of the current fiscal year as compared with $659 million in the corresponding months of the last fiscal year.

    READ MORE: Pakistan’s foreign investment surges by 73% in 5 months

    The net foreign private investment is showing increase of 5.7 per cent to $859 million during July – January 2021/2022 as compared with $812.4 million.

    The net inflow of foreign direct investment (FDI), a major component of foreign private investment, into Pakistan has recorded 11.3 per cent during first seven months (July – January) of 2021/2022.

    READ MORE: Carrefour enhances Pakistan investment to Rs10.5 billion

    The net inflow of the foreign direct investment increased to $1.17 billion during first seven months of the current fiscal year as compared with $1.05 billion in the corresponding period of the last fiscal year.

    The increase in net inflow of FDI can be attributed to significant contraction in outflow during the period. The outflow fell by 40 per cent to $468.7 million during the period under review as compared with the outflow of $786 million in the same period of the last fiscal year.

    READ MORE: Jazz’s investment in Pakistan crosses $10 billion

    However, the portfolio investment, the other component of foreign private investment, recorded a 31 per cent decline during first seven months of the current fiscal year. The outflow under foreign portfolio investment recorded at $308 million during July – January 2021/2022 as compared with outflow of $236 million in the corresponding period of the last fiscal year.

    READ MORE: Focus on increasing investment in export industry: PM

  • Stocks end down by 244 points on corporate results

    Stocks end down by 244 points on corporate results

    KARACHI: Pakistan Stocks ended down by 244 points on Thursday owing to below expectation corporate results.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,441 points as against 45,685 points, showing a decrease of 244 points.

    READ MORE: Stocks shed 47 points on inflation concerns

    Analysts at Topline Securities said that Pakistan equities commenced the day on a negative note in the backdrop of below expectation corporate announcement.

    Initially, ENGRO Corp announced the CY21 earnings where company announced Rupee 1 payout against the street expectation of Rupee 4-5.

    The reports flow regarding resumption in Russia/Ukraine tension further deteriorated investors’ sentiment which triggered selling across the board.

    READ MORE: KSE-100 index gains 88 points in range-bound trading

    During the day, the KSE 100 index made an intraday low at 45,259 level (-426 points; down 0.93 per cent). However, value hunting resumed at that level which assisted market to show some recovery and eventually settled at 45,441 level.

    Fertilizer, Power, Foods and Bank sectors’ stocks saw selling trend today where ENGRO, HUBC, DAWH and LUCK contributed negatively by losing 124 points. On the flip side, EFERT, MTL and HBL added 33 points collectively, today.

    About 153 million shares traded today while total value clocked in at Rs. 4.8 billion. WTL was volume leader of the day with 16.1 million shares traded in it, today.

    READ MORE: Stocks plunge 435 points on rising international oil prices

    Analysts at Arif Habib Securities said that the market remained under-pressure today due to inflationary concern arising from higher fuel prices.

    In cement sector, CHCC and KOHC remained in the limelight as it announced financial result in line with market expectations. Main board activity remained dull. Across the board selling was observed in the last trading hour, which led the market to close in the red zone.

    READ MORE: Stocks gain 139 points in range-bound trading

    Sectors contributing to the performance include Fertilizer (-56.0 points), Power (-42.0 points), Inv Banks (-36.4 points), Banks (-22.0 points) and Vanaspati & Allied (-16.7 points).

    Volumes increased from 145.3 million shares to 152.9 million shares (+5.2 per cent DoD). Traded value also increased by 15.5 per cent to reach US$ 27.2 million as against US$ 23.6 million.

    Stocks that contributed significantly to the volumes include WTL, HUMNL, TELE, KEL and UNITY.

  • SBP issues KIBOR rates on February 17, 2022

    SBP issues KIBOR rates on February 17, 2022

    KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as of February 17, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week9.7710.27
    2 – Week9.8110.31
    1 – Month9.8710.37
    3 – Month10.1910.44
    6 – Month10.5710.82
    9 – Month10.6411.14
    1 – Year10.7211.22
    SBP issues KIBOR rates on February 16, 2022
  • Rupee rallies 28 paisas to dollar as world oil prices slide

    Rupee rallies 28 paisas to dollar as world oil prices slide

    KARACHI: The Pak Rupee (PKR) rallied 28 paisas against the dollar on Thursday as decline in international oil prices continued.

    The rupee ended at Rs175.39 to the dollar from previous day’s closing of Rs175.67 in the interbank foreign exchange market.

    READ MORE: Dollar falls 11 paisas to PKR as global oil prices ease

    The rupee strengthened for the second straight day. It recovered around 39 paisas against the dollar owing to ease in oil prices in the international market.

    The oil import bill surged by 107 per cent to $11.7 billion during the first seven months (July – January) 2021/2022 as compared with $5.64 billion in the same period of the last fiscal year.

    READ MORE: PKR slips for second straight day against dollar

    On the other hand external inflows have supported the rupee to some extent. The State Bank of Pakistan (SBP) recently received over a billion dollars from the IMF and another a billion dollars under Sukuk proceeds, which helped the central bank to strengthen the foreign exchange reserves.

    READ MORE: Dollar jumps up by 76 paisas to PKR on high oil prices

    The total liquid foreign exchange reserves of the country increased by $1.637 billion to $23.721 billion by the week ended February 04, 2022 as against $22.084 billion by the week ended January 28, 2022.

    The official reserves of the State Bank climbed up by $1.61 billion to $17.337 billion by the week ended February 04, 2022 as compared with $15.727 billion a week ago.

    READ MORE: Dollar slips 16 paisas to PKR on rising forex reserves

    The local currency remained under pressure since the start of the current fiscal year. The rupee lost Rs17.85 or 11.33 per cent against the dollar from Rs157.54 on June 30, 2021 to the present level of Rs175.39.

  • Customers’ exchange rates on February 17, 2022

    Customers’ exchange rates on February 17, 2022

    Karachi, February 17, 2022: The State Bank of Pakistan (SBP) has issued the official exchange rates for February 17, 2022, offering crucial information on currency values against the Pakistani Rupee.

    (more…)
  • Allied Bank’s annual profit declines to Rs17.50 billion

    Allied Bank’s annual profit declines to Rs17.50 billion

    KARACHI: Allied Bank of Pakistan (ABL) on Thursday announced a 4.75 per cent decline in annual profit to Rs17.50 billion for the year 2021 as compared with Rs18.37 billion in the preceding year.

    According to financial results received by the Pakistan Stock Exchange (PSX), the earnings per share of the bank also fell to Rs15.29 for the year ended December 31, 2021 as compared with Rs16.05.

    The board of directors of Allied Bank met on February 17, 2022 and recommended a final cash dividend for the year ended December 31, 2021 at Rs2 per share i.e. 20 per cent. This is in addition to interim dividend already paid at Rs6 per share i.e. 60 per cent.

    Net mark-up and interest income of ABL came down to Rs45.56 billion for the year ended December 31, 2021 as compared with Rs48.39 billion.

    Non mark-up / interest income of the bank, however, posted growth to Rs16.76 billion for the year under review as compared with Rs13.44 billion in the preceding year.

    Total income of Allied Bank was flat at Rs62.32 billion for the year ended December 31, 2021 as compared with Rs61.84 billion in the last year.

    Operating expenses of the bank increased to Rs33.68 billion as compared with Rs30.28 billion.

  • Bitcoin to Pak Rupee on February 17, 2022

    Bitcoin to Pak Rupee on February 17, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs7,692,434.10 on February 17, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs7,692,882.06 on February 16, 2022.

    The rate of Bitcoin in US Dollar (USD) is $43,620.76 on February 17, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $43,679.66 on February 16, 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 16, 2022