KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs71.81 on July 15, 2022 at 10:20 AM Pakistan Standard Time (PST), in the open exchange market.
(more…)Author: Faisal Shahnawaz
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Dogecoin to Pak Rupee on July 15, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs13.04 on July 15, 2022 at 10:20 AM Pakistan Standard Time (PST), in the open exchange market.
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New petroleum prices in Pakistan from July 15, 2022
ISLAMABAD: Pakistan on Thursday announced reduction in prices of petroleum products effective from July 15, 2022 after a massive decline observed in the prices of oil in international markets.
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IRC provides health facilities in South Waziristan
PESHAWAR: The International Rescue Committee (IRC) provided health facilities through launching a program on Thursday namely “Strengthening Healthcare including Nutrition in Emergencies” (SHiNE), to facilitate the people in Orakzai and South Waziristan districts of Khyber Pakhtunkhwa.
Through this program 150,000 people have so far benefitted from the state-of-the-art health facilities set up in their areas. Among them are 45,000 women and children, who previously had to travel long distances to avail of basic health services.
Over 12,000 women and children have been screened for malnutrition and 1,390 cases have been enrolled in community-based programs for rehabilitation. It has also proved instrumental in creating awareness about hygiene, healthcare services and increasing their uptake.
The initiative is launched with the support of the European Union (EU), and in partnership with the Government of Khyber Pakhtunkhwa and the Medical Emergency Resilience Foundation (MERF).
The program also focuses on improving access to health facilities by strengthening the system to cater to specific needs under maternal, newborn, and child health care. It covers integrated Water, Sanitation, and Hygiene (WASH) activities, in the vicinity of the targeted health facilities coupled with awareness-raising for infection prevention and improved health-seeking behavior.
The IRC has urged the federal and provincial governments to mainstream integrated health interventions that are tailored to the unique needs of the most vulnerable populations across the country.
The Country Director of the IRC, Shabnam Baloch, said “Our recent experience of working in South Waziristan and Orakzai districts has shown that integrated health interventions targeting the specific needs of vulnerable populations can go a long way in service improvements, community engagement, encouraging long-term public-private partnerships, and systems strengthening. These are all necessary prerequisites to increase coverage, efficiency, and the quality of healthcare services.”
Chief Executive Officer at MERF, Dr. Shah Miran stated, “For the first time in decades the provision of comprehensive healthcare services has been ensured in hard to reach areas like Mamoozai in Orakzai and Angor Adda in South Waziristan while the people of Shaktoi belt in Anakhel have finally witnessed the operationalization of a Basic Health Unit (BHU) in their area which remained non-functional for over two decades.”
This public-private partnership has played a key role in revitalizing the health systems, encouraged repatriation, and created a strong public demand for the continuity of such services.
Dr. Shah Miran also added, “The provision of nutrition supplies in the target areas that have food insecurity and acute malnutrition as high as 20%, is not less than a blessing at a time when inflation, starvation, and lack of agricultural productivity are already taking a toll on the poorest of households.”
The SHiNE intervention, which is in direct support of the provincial government’s ongoing efforts to provide uninterrupted quality healthcare to the underserved populations of the NMDs deserves greater attention by policymakers and legislators.
Important lessons learned from this program, if replicated and mainstreamed can have a lasting, positive impact on Pakistan’s overall health & nutrition indicators.
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SBP issues KIBOR rates – July 14, 2022
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as on July 14, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.21 14.71 2 – Week 14.37 14.87 1 – Month 14.75 15.25 3 – Month 15.34 15.59 6 – Month 15.62 15.87 9 – Month 15.66 16.16 1 – Year 15.73 16.23 -

Pakistan stocks gain 486 points on IMF loan agreement
KARACHI: Pakistan stocks on Wednesday gained 486 points owing to positive sentiments after a staff level agreement reached between the country and the International Monetary Fund (IMF).
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,349 points from previous day’s closing of 41,863 points, showing an increase of 486 points.
READ MORE: Pakistan equities gain 519 points on IMF deal rumors
Analysts at Topline Securities said that Pakistan equities carried forward yesterday’s jubilant sentiments after official announcement regarding Government of Pakistan and IMF have reached Staff Level Agreement (SLA) which will unlock $1.2 billion disbursement under the Extended Fund Facility (EFF) program.
Earlier today a statement issued by the IMF regarding the agreement. IMF staff and the Pakistani authorities have reached a staff level agreement on policies to complete the combined 7th and 8th reviews of Pakistan’s Extended Fund Facility (EFF). The agreement is subject to approval by the IMF’s Executive Board. Subject to Board approval, about $1,177 million (SDR 894 million) will become available, bringing total disbursements under the program to about $4.2 billion, the IMF said.
READ MORE: Weekly Review: market likely to stay range-bound
Additionally, in order to support program implementation and meet the higher financing needs in FY23, as well as catalyze additional financing, the IMF Board will consider an extension of the EFF until end-June 2023 and an augmentation of access by SDR 720 million that will bring the total access under the EFF to about US$7 billion.
The analysts said that Initially, market opened on a positive note today, stayed in the green zone during the whole day and eventually settled at 42,349 (+486 points; up 1.16 per cent) for the day.
READ MORE: Stocks gain 184 points in lackluster trading activity
Investors opted to continue value hunting across the board in anticipation of stability on the macro front post IMF program resumption.
Tech, Fertilizer, Banks, and Cement sector stocks contributed positively to the index where SYS, ENGRO, MEBL, LUCK & BAHL added 170 points, cumulatively. On the flip side, COLG, POL and ABOT have witnessed some profit taking as they lost 29 points collectively, today.
Around 227 million shares traded today at the bourse while total value clocked in at Rs7.4 billion. KEL led the volumes chart today with trading of 32 million shares in it, today.
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Rupee recovers 30 paisas to dollar on IMF agreement
KARACHI: Pakistani Rupee (PKR) recovered 30 paisas against the dollar on Thursday after the country reached a Staff Level Agreement with the International Monetary Fund (IMF).
The exchange rate recorded an appreciation of 30 paisas in rupee value to end at Rs209.80 to the dollar from previous day’s closing of Rs210.10 in the interbank foreign exchange market.
READ MORE: Rupee drops to Rs210.10 against dollar in interbank
Earlier today a statement issued by the IMF regarding the agreement. IMF staff and the Pakistani authorities have reached a staff level agreement on policies to complete the combined 7th and 8th reviews of Pakistan’s Extended Fund Facility (EFF). The agreement is subject to approval by the IMF’s Executive Board. Subject to Board approval, about $1,177 million (SDR 894 million) will become available, bringing total disbursements under the program to about $4.2 billion, the IMF said.
Additionally, in order to support program implementation and meet the higher financing needs in FY23, as well as catalyze additional financing, the IMF Board will consider an extension of the EFF until end-June 2023 and an augmentation of access by SDR 720 million that will bring the total access under the EFF to about US$7 billion.
READ MORE: Rupee recovers to dollar ahead Eid holidays
The rupee has recorded all-time low at Rs211.92 on June 22, 2022.
Currency experts said that falling foreign exchange reserves were also major reason for the rupee depreciation.
The foreign exchange reserves of Pakistan have depleted by $454 million to $15.742 billion by week ended June 30, 2022. The foreign exchange reserves of the country were at $16.196 billion a week ago i.e. June 24, 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 $11.486 billion.
READ MORE: Dollar ends near Rs208 in interbank; Rupee fall continues
The official reserves of the State Bank also recorded a decline of $493 million to $9.816 billion by week ended June 30, 2022 as compared with $10.309 billion a week ago.
The central bank attributed the decline in foreign exchange reserves to external debt repayments.
It is pertinent to mention that the SBP received about $2.3 billion from Chinese banks for buildup of foreign exchange reserves. However, despite receiving the amount the external debt payment kept the pressure on the reserves.
READ MORE: Rupee sharply falls Rs206.94 to dollar in interbank
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 $10.33 billion.
The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring at 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.
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SBP’s customer forex rates – July 14, 2022
KARACHI: The State Bank of Pakistan (SBP) has published the customer foreign exchange rates on July 14, 2022. These rates, based on the weighted average rates of commercial banks, play a crucial role in guiding transactions involving foreign currencies.
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Bitcoin to Pak Rupee on July 14, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs4,280,028.79 on July 14, 2022 at 09:38 AM Pakistan Standard Time (PST), in the open exchange market.
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Ripple to Pak Rupee on July 14, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs68.06 on July 14, 2022 at 09:38 AM Pakistan Standard Time (PST), in the open exchange market.
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