Karachi, Pakistan – The State Bank of Pakistan (SBP) issued the official exchange rates for January 26, 2022, on Wednesday, providing customers with valuable insights based on the weighted average rates of commercial banks.
(more…)Author: Faisal Shahnawaz
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Bitcoin to Pak Rupee on January 26, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs6,668,646.73 on January 26, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs6,350,837.64 on January 25, 2022.
The rate of Bitcoin in US Dollar (USD) is $37,782.70 on January 26, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $ 36,041.02 on January 25, 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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KCCI holds awareness seminar on Pakistan Single Window
The Karachi Chamber of Commerce & Industry (KCCI) organized an awareness session on Pakistan Single Window (PSW).
The seminar was aimed to raise technical awareness about the overall operations of this important facility and provide an opportunity to the participants of the session to better understand the system, highlight issues and get adequate response along with first-hand information from the relevant officers of Pakistan Customs.
READ MORE: PSW to link 27 banks for trade facilitation
The session, which was steered by Chief Domain Officer/ Additional Collector Customs Naveed Abbas Memon and simultaneously conducted through online zoom facility, was attended by President KCCI Muhammad Idrees, Senior Vice President Abdul Rehman Naqi, Vice President Qazi Zahid Hussain, Chairman Customs & Valuations Subcommittee Muhammad Arif Lakhani, Former Senior Vice President Muhammad Ibrahim Kasumbi, Former Vice President Nasir Mehmood, KCCI Managing Committee and General Body Members in addition to immense participation of more than 250 people from all over the country including Sialkot, Lahore, Islamabad and Faisalabad who joined the meeting via zoom facility.
Speaking on the occasion, Chief Domain Officer Naveed Abbas Memon stated that Pakistan Single Window portal has been designed to fully facilitate traders by reducing time, cost and complexity in cross border trade in addition to improving the quality of experience for all stakeholders with primary focus on ease of doing business. He said that it also supports other government departments in adopting an Integrated Risk Management (IRM) approach for efficient enforcement of trade related controls.
READ MORE: PSW to reduce trade cost, time, and complications: Tarin
Earlier, while welcoming the participants of awareness session, President KCCI Muhammad Idrees appreciated the PSW initiative introduced by the government which would certainly help in minimizing human interaction and reduce chances of harassment and corruption. However, he stressed that the need to promptly rectify numerous glitches in the system and simplify procedures in order to achieve the prime objective of PSW facility which was to ensure ease of doing business.
He said that it was heartening to see that PSW promotes ease of doing business by maintaining collaboration with 74 different public sector entities involved in regulation of cross border trade of Pakistan and digitalizing the processes related to importers, exporters, customs house agents, freight forwarders, shipping companies and transporters etc. but there was a room for further improving the system so that it could be brought at par with international standards.
He was of the view that fully functional and totally flawless operations of PSW would also enable Pakistan to achieve compliance with WTO’s Trade Facilitation Agreement besides helping Pakistan to unlock its potential in becoming a hub for trade.
READ MORE: Biometric verification for PSW inaugurated at KCAA
He mentioned that Karachi Chamber has the honor of being the first Chamber of the country to NADRA e-Sahulat at KCCI premises where members of the business and industrial community were being provided biometric verification facility required for registration in the PSW portal. “PSW or any other IT-enabled service to be introduced in future must be devised in such a manner that these facilitate business community rather than becoming a source for exploitation”, he stressed, adding that FBR must work in close coordination with KCCI to make PSW and other such future initiatives successful.
While appreciating the support and cooperation extended by Pakistan Customs, particularly the seriousness being exhibited towards ensuring ease of doing business, President KCCI opined that the success of PSW initiative would not only prove beneficial for businesses but also for the economy.
Many participants of the meeting expressed deep concerns over some non-functional tabs in PSW portal and also the delays in biometric verification for registration which was causing demurrage detention losses. In response, on the spot instructions were issued to resolve several glitches so that the business community could use this portal without any problem.
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SBP issues KIBOR rates on January 25, 2022
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as of January 25, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 9.73 10.23 2 – Week 9.77 10.27 1 – Month 9.83 10.33 3 – Month 10.02 10.27 6 – Month 10.83 11.08 9 – Month 10.94 11.44 1 – Year 11.04 11.54 -

Customers get Rs709 million in complaints against banks
Banking customers have been provided relief of an amount of Rs709 million in complaints lodged against banks, according to a statement issued on Tuesday.
The Banking Mohtasib Pakistan (BMP) has provided relief amounting to Rs 709 million to the banking customers by disposing of 32,592 complaints during the year, 2021 out of 37,364 complaints which works out to about 87 per cent of the total complaints as compared to the year, 2020 wherein relief of Rs 598 million was provided to the banking customers by disposing of 21,360 complaints.
READ MORE: Mohtasib provides relief of Rs600 million in complaints against banks
According to the Annual report for the year 2021 of BMP which was released today 33,196 new complaints, including 18,762 complaints from Prime Minister’s portal, were received at BMP Secretariat in 2021 whereas 4167 of complaints were brought forward from the year, 2020.
An increase of about 46% was observed in the receipt of complaints at BMP during the year, 2021 as compared to the year, 2020. In-spite of Covid-19, Banking Mohtasib Pakistan Office has succeeded in maintaining the regular pace of disposing of complaints while adhering to the prescribed Covid-19 Standard Operating Procedures (SOPs).
READ MORE: Mohtasib receives 11,174 complaints against banks during six months
To keep pace with the technology and to meet the art of the technological product, BMP has embarked upon a project to upgrade the I.T. system and revamp its website.
This revamped website will contain an online complaint lodgment portal for general public which will be followed by launching of SMS service by sometime in June this year to keep them abreast with the status of their complaints.
READ MORE: Mohtasib receives 14,587 complaints against banks
With a view to protecting the people from fraudulent activities which are rampant now a days, the Banking Mohtasib, Mr. Kamran Shehzad has also emphasized on the banking customers that they should not disclose their personal and financial credentials to any third person. On receipt of suspicious calls they should immediately approach the nearest branch of their bank or contact the helpline of the bank, he added.
READ MORE: Complaints against banks surge by 51 percent: Banking Mohtasib
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Customers’ exchange rates on January 25, 2022
Karachi, Pakistan – On Tuesday, the State Bank of Pakistan (SBP) released the official exchange rates for January 25, 2022, offering customers valuable insights based on the weighted average rates of commercial banks.
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Stocks fall on rising COVID cases
KARACHI: Pakistan stocks have declined by 36 points on Tuesday amid rising cases of COVID-19 in the country.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,888 points as against previous day’s closing of 44,924 points, showing a decrease of 36 points.
READ MORE: Stocks fall 94 points amid policy announcement
Analysts at Arif Habib Limited said that the market opened on a positive note as Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) kept the policy rate unchanged at 9.75 percent.
Cement stocks remained in the limelight due to expectation of tremendous earnings in the upcoming results.
READ MORE: Stocks gain on unchanged policy rate expectations
The market stayed in the green zone but profit taking was witnessed in the last trading hour, which led the index to close in the red zone due to alarming Covid-19 cases and mounting international oil prices.
The main board activity remained gloomy. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
READ MORE: Bearish trend continues at Pakistan Stocks
Sectors contributing to the performance include Technology (-91.3points), E&P (-38.8points), Chemical (-21.8points), Insurance (-8.5points) and Power (-5.8points).
Volumes increased from 160.2 million shares to 207.0 million shares (+29.2 per cent DoD). Traded value also increased by 41.3 per cent to reach US$ 45.9 million as against US$ 32.5 million.
Stocks that contributed significantly to the volumes include WAVES, TRG, TREET, CNERGY and WTL.
READ MORE: Pakistan’s stocks plunge by 674 points on high oil prices
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Rupee falls 23 paisas on dollar demand surge
KARACHI: The Pak Rupee (PKR) fell by 23 paisas against the dollar on Tuesday owing to higher import demand and falling foreign exchange reserves.
The rupee ended Rs176.72 to the dollar from previous day’s closing of Rs176.49 in the interbank foreign exchange market.
READ MORE: Rupee plummets on high oil prices
Currency experts said that the rupee witnessed depreciation due fall in foreign exchange reserves of the country and surge in dollar demand for import payments.
READ MORE: Rupee recovers 25 paisas on easing oil prices
Pakistan’s liquid foreign exchange reserves dropped by $551 million to $23.35 billion by week ended January 14, 2022 as compared with $23.901 billion by week ended January 07, 2022.
The experts said that the rupee was under pressure due to higher payments for oil imports. They said that the dollar demand went up owing to rise in international oil prices.
READ MORE: Rupee drops 27 paisas against dollar
The oil bill of Pakistan jumped by 113.4 per cent during first half of the current fiscal year. The bill surged to $10.18 billion during July – December 2021/2022 as compared with $4.77 billion in the corresponding period of the last fiscal year.
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Bitcoin to Pak Rupee on January 25, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs 6,350,837.64 on January 25, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs 6,420,909.87 on January 24, 2022.
The rate of Bitcoin in US Dollar (USD) is $36,041.02 on January 25, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $ 36,389.40 on January 24, 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 January 25, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs105.00 on January 25, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs 107.38 on January 24, 2022.
The rate of Ripple in US Dollar (USD) is $0.60 on January 25, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.61 on January 24, 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.