KARACHI – The State Bank of Pakistan (SBP) has provided customers with the latest foreign exchange rates for September 07, 2022.
(more…)Author: Faisal Shahnawaz
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Dollar hits PKR 224.13 in midday interbank trading
KARACHI: The weakness in Pakistani Rupee (PKR) value continued as the US dollar climbed to PKR 224.13 during midday trading at interbank foreign exchange market.
The exchange rate so far witnessed a decline of 2.71 in rupee value as dollar is being traded at Rs224.13 as compared with previous day’s closing of Rs221.42 in interbank foreign exchange market.
READ MORE: Dollar continues upward journey; ends at PKR 221.42 in interbank
It is pertinent to mention that the rupee fell to the record low at Rs239.94 against the dollar on July 28, 2022.
The rupee made some recovery against the greenback after the IMF fund was transferred to the State Bank of Pakistan (SBP). However, the removal of sanction on import of luxury and non-essential items the rupee again started free fall.
It is worth mentioning that the rupee made recovery during the last week owing to inflows of $1.16 billion from the International Monetary Fund (IMF).
READ MORE: Dollar ends up to PKR 219.86 on September 05, 2022
The IMF executive board on August 29 approved seventh and eighth review for Pakistan and allowed transfer of $1.1 billion as tranche, which was received by the State Bank of Pakistan (SBP) on August 31, 2022.
The currency experts said that although the IMF inflows would help the further inflows under bilateral and multilateral sources. However, the devastation of floods has changed the economic environment scenario.
The torrential rains and flash floods have inflicted a loss of $10 billion to Pakistan’s economy.
The devastation will prompt the country to make imports in the coming days, especially for agriculture products.
The rupee also fell due to continuous depletion in foreign exchange reserves of the country.
The foreign exchange (FX) reserves of Pakistan have declined by $119 million to $13.40 billion by the week ended August 26, 2022. The foreign exchange reserves of the country were at $13.522 billion by the week ended August 19, 2022.
READ MORE: Dollar jumps to PKR 218.98 at interbank closing on Sept 02, 2022
The country’s foreign exchange reserves hit an all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $13.825 billion.
The official foreign exchange reserves of the State Bank witnessed a decline of $113 million to $7.697 billion by the week ended August 26, 2022 as against $7.810 billion a week ago.
The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by the week ended August 27, 2021. Since then the official reserves of the SBP dropped by $12.449 billion.
The central bank however said it had received proceeds of $1.16 billion (equivalent of SDR 894 million) from IMF under the Extended Fund Facility (EFF) on August 31, 2022 which would be included in SBP’s foreign exchange reserve position for the week ending on September 02, 2022.
READ MORE: Dollar closes down to PKR 218.60 on September 01, 2022
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Bitcoin to Pakistani Rupee on September 07, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,179,390.23 on September 07, 2022 at 7:10 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,201,203.38 at closing on September 06, 2022.
The rate of Bitcoin in US Dollar (USD) is $18,830.04 on September 07, 2022 at 7:10 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $18,928.31 at closing on September 06, 2022.
Bitcoin to Pakistani Rupee on September 06, 2022
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Dogecoin to Pakistani Rupee on September 07, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs13.03 on September 07, 2022 at 7:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.13 at closing on September 06, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.06 on September 07, 2022 at 7:10 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 September 06, 2022.
Dogecoin to Pakistani Rupee on September 06, 2022
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Ripple to Pakistani Rupee on September 07, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs71.27 on September 07, 2022 at 7:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs71.79 at closing on September 06, 2022.
The rate of Ripple in US Dollar (USD) is $0.32 on September 07, 2022 at 7:10 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.32 at closing on September 06, 2022.
Ripple to Pakistani Rupee on September 06, 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.
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Ripple to Pakistani Rupee on September 07, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs71.27 on September 07, 2022 at 7:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs71.79 at closing on September 06, 2022.
The rate of Ripple in US Dollar (USD) is $0.32 on September 07, 2022 at 7:10 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.32 at closing on September 06, 2022.
Ripple to Pakistani Rupee on September 06, 2022
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Bitcoin to Pakistani Rupee on September 07, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,179,390.23 on September 07, 2022 at 7:10 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,201,203.38 at closing on September 06, 2022.
The rate of Bitcoin in US Dollar (USD) is $18,830.04 on September 07, 2022 at 7:10 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $18,928.31 at closing on September 06, 2022.
Bitcoin to Pakistani Rupee on September 06, 2022
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Dogecoin to Pakistani Rupee on September 07, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs13.03 on September 07, 2022 at 7:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.13 at closing on September 06, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.06 on September 07, 2022 at 7:10 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 September 06, 2022.
Dogecoin to Pakistani Rupee on September 06, 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.
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Dogecoin to Pakistani Rupee on September 07, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs13.03 on September 07, 2022 at 7:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.13 at closing on September 06, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.06 on September 07, 2022 at 7:10 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 September 06, 2022.
Dogecoin to Pakistani Rupee on September 06, 2022
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Ripple to Pakistani Rupee on September 07, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs71.27 on September 07, 2022 at 7:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs71.79 at closing on September 06, 2022.
The rate of Ripple in US Dollar (USD) is $0.32 on September 07, 2022 at 7:10 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.32 at closing on September 06, 2022.
Ripple to Pakistani Rupee on September 06, 2022
—————————————————————————
Bitcoin to Pakistani Rupee on September 07, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,179,390.23 on September 07, 2022 at 7:10 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,201,203.38 at closing on September 06, 2022.
The rate of Bitcoin in US Dollar (USD) is $18,830.04 on September 07, 2022 at 7:10 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $18,928.31 at closing on September 06, 2022.
Bitcoin to Pakistani Rupee on September 06, 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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NdcTech becomes certified Temenos partner
NdcTech has announced to become a certified development partner of Temenos. NdcTech is a leading IT consulting company providing digital transformational services for banks and financial institutions across the globe.
A statement issued on Tuesday said that this accreditation distinguishes NdcTech’s engineering capabilities while carrying out digital transformations.
The company’s extensive expertise on the Temenos product stack and in-depth knowledge of modern frameworks and development methodologies demonstrate its proficiency and skills.
This certification enables NdcTech to deploy modern technology best practices and development frameworks that are accredited by Temenos to build effective enterprise software development processes and solutions.
Through this certification, NdcTech will carry out customizations for bank-specific and country-specific regulatory requirements on top of Temenos open platform for composable banking.
The company will now be able to develop solutions for banks and financial institutions keeping in view regulatory requirements and evolving customer demands.
On this achievement, Ammara Masood, CEO & President of NdcTech said: “We are delighted to be certified by Temenos as a Development Partner. This certification will allow us to rapidly build innovative and country-specific solutions on the Temenos platform, paving the way for building banks of the future.”
It is pertinent to mention here that NdcTech is a certified and award-winning partner of Temenos and has successfully transformed the Core and Digital banking platforms of more than 110 Banks across the globe.
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Pakistan stocks end flat amid rupee depreciation
KARACHI: Pakistan stocks ended flat on Tuesday as the continuous depreciation of the Pakistani Rupee (PKR) against the US Dollar weighed heavily on investor sentiment.
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SBP issues KIBOR rates – September 06, 2022
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as on September 06, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.81 15.31 2 – Week 14.89 15.39 1 – Month 15.06 15.56 3 – Month 15.66 15.91 6 – Month 15.74 15.99 9 – Month 15.80 16.30 1 – Year 15.85 16.35 -
Gang busted engaged in illegal SIMs activation
ISLAMABAD: Pakistan Telecommunication Authority (PTA) in collaboration with Federal Investigation Agency (FIA) carried out a successful raid at three different locations in Peshawar against illegal activation of SIMs on Afghan passports, tampering in Afghan passports an issuance of SIMs on fake visas.
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Submarine cable connects Pakistan to France: PTA
ISLAMABAD: Pakistan Telecommunication Authority (PTA) on Tuesday said submarine cable infrastructure has been completed for connectivity from Pakistan to France.
Pakistan & East Africa Connecting Europe (PEACE) Cable International Network Co. Ltd has completed the construction of a submarine cable infrastructure, providing connectivity from Karachi to Marseille, France.
READ MORE: Cellular mobile operators provide free calls in Pakistan
The Pakistan-Egypt segment connects Karachi and Zafarana, Egypt total length of which is 5,800 KM. The connectivity from Pakistan to France is now fully completed and ready for service.
This was informed by the management of PEACE Cable whose officials held online and in person meeting with Chairman PTA, Maj. Gen. Amir Azeem Bajwa (R) at PTA Headquarters.
READ MORE: Flash floods affect internet services in Pakistan
The delegation comprised of Peace Management COO, Sun Xiaohua, Peace Management Director Zhang Donghai, Commercial Director Chirs Zhang, (Online) and Peace Cable, Country Manager Pakistan, Shoaib Ashfaq Qureshi, (In Person).
The delegation expressed its interest for investment opportunities in Pakistan and discussed future plans for development of innovative digital & technology solutions to accelerate progress towards Digitally Connected Pakistan.
READ MORE: Floods affect telecom services: PTA
PEACE cable is a 15,000 km submarine cable from Pakistan to France, extended from Pakistan to Singapore for an additional 6,500km, with main trunk landing in Singapore, Pakistan, Kenya, Egypt and France and branches to the Maldives, Malta, Cyprus, etc.
This submarine cable adds an ultra-fast, high capacity, low latency and redundant connectivity to Pakistan’s international connectivity.