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Author: Faisal Shahnawaz

  • Pakistan stocks dip 305 points in dull trading

    Pakistan stocks dip 305 points in dull trading

    KARACHI: Pakistan stocks ended down by 305 points on Thursday in dull trading activity during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell to 43,033 points from previous day’s closing of 43,338 points, showing a decline of 305 points.

    READ MORE: Pakistan stocks end flat to 43,338 points

    Analysts at Arif Habib Limited said that the market was remained range bound throughout the day owing to concerns over rising inflation and political noise.

    The benchmark KSE-100 index opened in the positive zone but dull activity was observed. In the last trading hour, profit taking was witnessed across the board which dragged the index in the red zone.

    READ MORE: Pakistan stocks gain 540 points on unchanged policy rate

    Volumes remained dry in the main board although hefty volumes were witnessed in the 3rd tier stocks.

    Sectors contributing to the performance include Power (-142.4 points), Fertilizer (-32.0 points), E&P’s (-28.4 points), Banks (-27.6 points) and Technology (-25.0 points).

    READ MORE: Pakistan equities fall by 444 points on political noise

    Volumes decreased from 256.5 million shares to 208.1 million shares (-18.9 per cent DoD). Average traded value also decreased by 11.0 per cent to reach US$ 35.5 million as against US$ 39.9 million.

    Stocks that contributed significantly to the volumes are WTL, HASCOL, PIAA, TELE and HUBC.

    READ MORE: Weekly Review: monetary policy decision likely to dictate market

  • SBP issues KIBOR rates – August 25, 2022

    SBP issues KIBOR rates – August 25, 2022

    KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as on August 25, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week14.9615.46
    2 – Week15.0115.51
    1 – Month15.1015.60
    3 – Month15.6715.92
    6 – Month15.7516.00
    9 – Month15.7916.29
    1 – Year15.8316.33

    READ MORE: SBP issues KIBOR rates – August 24, 2022

  • Pakistani Rupee falls for 4th day; dollar climbs up to Rs219.14

    Pakistani Rupee falls for 4th day; dollar climbs up to Rs219.14

    KARACHI: Pakistani Rupee (PKR) fell for the fourth consecutive day against the US dollar on Thursday as interbank foreign exchange market ended at Rs219.14.

    The rupee lost 76 paisas to end at Rs 217.14 to the dollar from previous day’s closing of Rs218.38 in the interbank foreign exchange market.

    Currency experts said that the rupee was under immense pressure due to massive demand for import payments and rising oil prices in the international market.

    READ MORE: Dollar gains for third day, ends at PKR 218.38

    Besides, political noise was also rising due to cases filed against country’s biggest party chairman Imran Khan.

    The rupee has witnessed decline during all four trading days of the ongoing week.

    Currency experts said that shortage of dollar for import payment impacted the rupee value. Further decline in foreign exchange reserves also resulted a panic in the market.

    They said that the government on August 20 withdrew the ban on import of luxury and non-essential items, which was imposed on May 18, 2022.

    READ MORE: Dollar climbs up to PKR 217.66 at interbank closing

    The government had imposed the ban in the wake of depleting foreign exchange reserves and falling value in the rupee against the dollar.

    The government lifted the ban at a time when both the indicators deteriorated.

    After the ban the rupee fell to historic low of Rs239.94 to the dollar on July 28, 2022.

    Pakistan’s foreign exchange reserves have increased by $52 million by week ended August 12, 2022. The foreign exchange reserves of the country have recorded at $13.613 billion by week ended August 12, 2022 as compared with $13.561 billion a week ago i.e. August 05, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $13.615 billion.

    READ MORE: Dollar jumps to PKR 216.66 amid political crisis

    The official foreign exchange reserves of the State Bank witnessed an increase of $67 million to $7.897 billion by week ended August 12, 2022 as compared with $7.83 billion a week ago.

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $12.249 billion.

    Previously, the rupee made gain on reports of renewal of Saudi financial assistance helped to improve sentiments in the currency market. Further decline in international oil prices also helped the rupee to make gain.

    READ MORE: Rupee gains 30 paisas to dollar at closing on August 19, 2022

    Besides, the tight monitoring of the State Bank of Pakistan (SBP) had eased the pressure on exchange rate.

    It is worth mentioning that the foreign exchange reserves of the country depleted massively.

  • State Bank’s foreign exchange rates – August 25, 2022

    State Bank’s foreign exchange rates – August 25, 2022

    The State Bank of Pakistan (SBP) has unveiled the foreign exchange rates for August 25, 2022, presenting valuable information on the buying and selling prices of various foreign currencies in Pakistani Rupees (PKR).

    (more…)
  • Bitcoin to Pakistani Rupee on August 25, 2022

    Bitcoin to Pakistani Rupee on August 25, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,692,322.44 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,605,198.63 at closing on August 24, 2022.

    The rate of Bitcoin in US Dollar (USD) is $21,529.51 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $21,272.41 at closing on August 24, 2022.

    READ MORE: Bitcoin to Pakistani Rupee on August 24, 2022

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    Ripple to Pakistani Rupee on August 25, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs75.35 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs73.55 at closing on August 24, 2022.

    The rate of Ripple in US Dollar (USD) is $0.35 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.34 at closing on August 24, 2022.

    READ MORE: Ripple to Pakistani Rupee on August 24, 2022

    —————————————————————————

    Dogecoin to Pakistani Rupee on August 25, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs14.93 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs14.69 at closing on August 24, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.07 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.07 at closing on August 24, 2022.

    READ MORE: Dogecoin to Pakistani Rupee on August 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.

  • Ripple to Pakistani Rupee on August 25, 2022

    Ripple to Pakistani Rupee on August 25, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs75.35 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs73.55 at closing on August 24, 2022.

    The rate of Ripple in US Dollar (USD) is $0.35 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.34 at closing on August 24, 2022.

    READ MORE: Ripple to Pakistani Rupee on August 24, 2022

    —————————————————————————

    Dogecoin to Pakistani Rupee on August 25, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs14.93 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs14.69 at closing on August 24, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.07 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.07 at closing on August 24, 2022.

    READ MORE: Dogecoin to Pakistani Rupee on August 24, 2022

    —————————————————————————–

    Bitcoin to Pakistani Rupee on August 25, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,692,322.44 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,605,198.63 at closing on August 24, 2022.

    The rate of Bitcoin in US Dollar (USD) is $21,529.51 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $21,272.41 at closing on August 24, 2022.

    READ MORE: Bitcoin to Pakistani Rupee on August 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.

  • Dogecoin to Pakistani Rupee on August 25, 2022

    Dogecoin to Pakistani Rupee on August 25, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs14.93 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs14.69 at closing on August 24, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.07 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.07 at closing on August 24, 2022.

    READ MORE: Dogecoin to Pakistani Rupee on August 24, 2022

    —————————————————————————–

    Ripple to Pakistani Rupee on August 25, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs75.35 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs73.55 at closing on August 24, 2022.

    The rate of Ripple in US Dollar (USD) is $0.35 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.34 at closing on August 24, 2022.

    READ MORE: Ripple to Pakistani Rupee on August 24, 2022

    —————————————————————————

    Bitcoin to Pakistani Rupee on August 25, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,692,322.44 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,605,198.63 at closing on August 24, 2022.

    The rate of Bitcoin in US Dollar (USD) is $21,529.51 on August 25, 2022 at 09:00 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $21,272.41 at closing on August 24, 2022.

    READ MORE: Bitcoin to Pakistani Rupee on August 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.

  • SBP issues KIBOR rates – August 24, 2022

    SBP issues KIBOR rates – August 24, 2022

    KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the Karachi Interbank Offered Rates (KIBOR) as on August 24, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week14.9615.46
    2 – Week15.0115.51
    1 – Month15.0815.58
    3 – Month15.6615.91
    6 – Month15.7616.01
    9 – Month15.8016.30
    1 – Year15.8316.33

    READ MORE: SBP issues KIBOR rates – August 23, 2022

  • Pakistan stocks end flat to 43,338 points

    Pakistan stocks end flat to 43,338 points

    KARACHI: Pakistan stocks ended flat on Wednesday as range bound trading activities observed during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 43,338 points from previous day’s closing of 43,367 points, showing a decline of 29 points.

    READ MORE: Pakistan stocks gain 540 points on unchanged policy rate

    Analysts at Arif Habib Limited said that a range bound session was observed in the market today due to roll-over week.

    The benchmark KSE-100 index opened in the positive zone but sluggish activity was witnessed throughout the day.

    READ MORE: Pakistan equities fall by 444 points on political noise

    In the last trading hour profit taking was observed which led the index to close in the red zone.

    Volumes remained dry in the main board although healthy volumes were witnessed in the 3rd tier stocks.

    Sectors contributing to the performance include Cement (-43.8 points), Misc. (-43.5 points), Inv Banks (-19.1 points), Textile Composite (-12.2 points) and E&P (-12.1 points).

    READ MORE: Weekly Review: monetary policy decision likely to dictate market

    Volumes decreased from 324.4 million shares to 256.5 million shares (-20.9 per cent DoD). Average traded value also decreased by 9.4 per cent to reach US$ 40.1 million as against US$ 44.2 million.

    Stocks that contributed significantly to the volumes are HASCOL, KEL, PIAA, BAFL and TPLP.

    READ MORE: Weekly Review: stock market likely to move in positive zone

  • Dollar gains for third day, ends at PKR 218.38

    Dollar gains for third day, ends at PKR 218.38

    KARACHI: The US dollar continued to make gain against the Pakistani Rupee (PKR) for third consecutive day on Wednesday and ended at Rs218.38 in interbank foreign exchange market.

    The exchange rate recorded 72 paisas decline in rupee value to end at Rs218.38 from previous day’s closing of Rs217.66 in the interbank foreign exchange market.

    READ MORE: Dollar climbs up to PKR 217.66 at interbank closing

    The rupee has witnessed decline during all three trading days of the ongoing week.

    Currency experts said that shortage of dollar for import payment impacted the rupee value. Further decline in foreign exchange reserves also resulted a panic in the market.

    They said that the government on August 20 withdrew the ban on import of luxury and non-essential items, which was imposed on May 18, 2022.

    The government had imposed the ban in the wake of depleting foreign exchange reserves and falling value in the rupee against the dollar.

    READ MORE: Dollar jumps to PKR 216.66 amid political crisis

    The government lifted the ban at a time when both the indicators deteriorated.

    After the ban the rupee fell to historic low of Rs239.94 to the dollar on July 28, 2022.

    Pakistan’s foreign exchange reserves have increased by $52 million by week ended August 12, 2022. The foreign exchange reserves of the country have recorded at $13.613 billion by week ended August 12, 2022 as compared with $13.561 billion a week ago i.e. August 05, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $13.615 billion.

    READ MORE: Rupee gains 30 paisas to dollar at closing on August 19, 2022

    The official foreign exchange reserves of the State Bank witnessed an increase of $67 million to $7.897 billion by week ended August 12, 2022 as compared with $7.83 billion a week ago.

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $12.249 billion.

    Previously, the rupee made gain on reports of renewal of Saudi financial assistance helped to improve sentiments in the currency market. Further decline in international oil prices also helped the rupee to make gain.

    Besides, the tight monitoring of the State Bank of Pakistan (SBP) had eased the pressure on exchange rate.

    It is worth mentioning that the foreign exchange reserves of the country depleted massively.

    READ MORE: Pakistani Rupee eases against dollar; Interbank ends at Rs214.88