The exchange rate of Ripple (XRP) against the Pakistani Rupee (PKR) stood at Rs136.37 as of 5:10 AM Pakistan Standard Time (PST) on April 22, 2022. This rate represents a decrease from the previous day’s closing rate of Rs140.25, highlighting a drop in Ripple’s value in the local market.
(more…)Author: Faisal Shahnawaz
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Dogecoin to Pak Rupee on April 22, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs25.53 on April 22, 2022 at 5:02 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs26.23 at closing on April 21, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.14 on April 22, 2022 at 5:02 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.14 at closing on April 21, 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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Pakistan forex reserves inch up to $17.045 billion
KARACHI: Pakistan’s foreign exchange reserves inched up by $17 million to $17.045 billion by week ended April 16, 2022, State Bank of Pakistan (SBP) said on Thursday.
The foreign exchange reserves of the country were at $17.028 billion a week ago.
The official foreign exchange reserves of the State Bank also improved by $36 million to $10.886 billion by the week ended April 16, 2022 as compared with $10.85 billion a week ago.
The foreign exchange held by commercial banks, however, fell by $19 to $6.157 billion by week ended April 16, 2022 as compared with $6.178 billion a week ago.
Pakistan’s foreign exchange reserves have declined by around $10 billion in the past seven months owing to extreme pressure of dollar demand for import payments and external repayment of government debt.
The country’s foreign exchange reserves hit an all-time high of $27.228 billion on August 27, 2021.
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Pakistan stocks fall 290 points on PKR devaluation
KARACHI: Pakistan stocks have declined by 290 points on Thursday owing to further depreciation in Pakistan Rupee (PKR) against the dollar.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,653 points from previous day’s closing of 45,943, showing a decline of 290 points.
READ MORE: Stocks slide 390 points on volatile exchange rate
Analysts at Arif Habib Limited said that the market remained under pressure today due to further devaluation of PKR against the US Dollar and concerns over spikes in Market Treasury Bill yields.
READ MORE: Dollar ends near PKR 187 in interbank market
Despite opening in the green zone KSE-100 failed to sustain the positive zone as profit taking was observed. “In the last trading hour rally was witnessed in the refinery sector as PRL announced tremendous financial results beating analyst expectations.”
Analysts at Topline Securities said that Pakistan equities had a direction less day today where the benchmark KSE 100 index kicked off the day in the green zone, made an intraday high at 46,067 (+124 points; up 0.27 per cent) and low at 45,600 (-343 points; down 0.75 per cent) before settling at 45,653 (-291 points; down 0.63 per cent) for the day.
READ MORE: Pakistan stocks shed 206 points on profit taking
During the day, ENGRO announced its 1Q2022 result where EPS clocked at Rs13.84 (-4 per cent YoY while up 67 per cent QoQ). Earnings was above industry expectations. In addition to this, the result also accompanied a dividend of Rs.12 per share. Moreover, above expected refinery sector companies (ATRL & PRL) results lured investors’ interest in both the names as they closed +2.31 per cent & +7.46 per cent, respectively.
READ MORE: Pakistan stocks shed 62 points on profit taking
Sectors contributing to the performance include Banks (-61.8 points), E&P (-37.3 points), Fertilizer (-35.3 points), Cement (-34.7 points) and Technology (-32.1 points)
Volumes decreased from 235.0 million shares to 186.4 million shares (-20.7 per cent DoD). Average traded value also decreased by 29.8 per cent to reach US$ 30.1 million as against US$ 42.8 million.
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Dollar ends near PKR 187 in interbank market
KARACHI: The US dollar continued to make gain against the Pakistan Rupee (PKR) on Thursday and ended near PKR 187 in interbank foreign exchange market.
The exchange rate witnessed a decline PKR 1.05 in rupee value to close at PKR 186.97 to the dollar from previous day’s closing of PKR 185.92 in interbank foreign exchange market.
READ MORE: Rupee falls Rs4.37 to dollar in fresh wave
The dollar continued to make gain for the last four trading sessions. The greenback stronger by PKR 5.42 since April 16, 2022 when the exchange rate was PKR 181.55.
It is pertinent to mention that the local currency made this recovery after touching all-time low at PKR 188.18 on April 07, 2022.
The fresh wave of rupee depreciation has been attributed to import and external debt payments.
The recent measures of the State Bank of Pakistan (SBP), including raising the key policy rate by 2.5 per cent, have failed to support the local currency.
READ MORE: Dollar climbs up to Rs184.44 at interbank closing
Previously, the rupee made significant recovery for seven consecutive trading sessions after the central bank announced a sharp increase in key policy rate.
The SBP on April 07, 2022 announced 2.5 per cent increase in interest rate to enhance the key policy rate to 12.25 per cent from 9.75 per cent. The rupee was at all-time low PKR 188.18 to the dollar on the day of monetary policy announcement.
However, following the announcement the rupee rallied for seven straight days and recovered PKR 6.63 against the dollar.
READ MORE: Dollar ends PKR recovery spree; closes at Rs182.54
The appreciation in dollar value may be attributed to the further depletion in foreign exchange reserves of the county.
Pakistan’s foreign exchange reserves hit a 22-month low after falling for nine consecutive weeks to $17.03 billion.
According to data released by the State Bank of Pakistan (SBP), the foreign exchange reserves of the country fell by $449 million to $17.028 billion by week ended April 08, 2022 as compared with $17.477 billion a week ago.
READ MORE: Dollar plummets against PKR for seven consecutive days
The foreign exchange reserves were at $17.971 billion by week ended June 26, 2020.
Pakistan’s foreign exchange reserves have declined by $10.23 billion in the past seven months owing to extreme pressure of dollar demand for import payments and external repayment of government debt.
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SBP issues KIBOR rates – April 21, 2022
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as on April 21, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 12.21 12.71 2 – Week 12.29 12.79 1 – Month 12.51 13.01 3 – Month 13.32 13.57 6 – Month 13.59 13.84 9 – Month 13.58 14.08 1 – Year 13.59 14.09 -
SBP’s customer exchange rates – April 21, 2022
KARACHI, April 21, 2022 – The State Bank of Pakistan (SBP) has published the official exchange rates for customers on Thursday, April 21, 2022.
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Bitcoin to Pak Rupee on April 21, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs7,714,303.56 on April 21, 2022 at 06:36 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs7,711,836.38 at closing on April 20, 2022.
The rate of Bitcoin in US Dollar (USD) is $41,537.44 on April 21, 2022 at 06:36 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $41,524.16 at closing on April 20, 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 April 21, 2022
The exchange rate of Ripple (XRP) against the Pakistani Rupee (PKR) was recorded at Rs140.25 as of 6:32 AM Pakistan Standard Time (PST) on April 21, 2022, in the open exchange market. This rate shows a marginal increase from the previous day’s closing rate of Rs140.24, reflecting a stable position in the local market.
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Dogecoin to Pak Rupee on April 21, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs26.23 on April 21, 2022 at 6:28 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs26.38 at closing on April 20, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.14 on April 21, 2022 at 6:28 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.14 at closing on April 20, 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.