KARACHI: State Bank of Pakistan (SBP) on Monday issued the Karachi Interbank Offered Rates (KIBOR) as of March 21, 2022.
Following are the latest KIBOR rates:
| Tenor | BID | OFFER |
| 1 – Week | 9.81 | 10.31 |
| 2 – Week | 9.91 | 10.41 |
| 1 – Month | 10.28 | 10.78 |
| 3 – Month | 11.26 | 11.51 |
| 6 – Month | 11.80 | 12.05 |
| 9 – Month | 11.84 | 12.34 |
| 1 – Year | 11.90 | 12.40 |
KARACHI: Pakistan stocks gained 200 points on Monday owing to positive sentiments prevailed over reconstitution of exploring Reko Diq gold deposits.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,230 points as against last Friday’s closing of 43,030 points showing an increase of 200 points.
READ MORE: Weekly Review: political unrest to keep stocks under pressure
Analysts at Arif Habib Limited said that the index stayed in the green zone today as Current Account Deficit (CAD) shrinks 78 per cent in February 2022.
Moreover, the federal government and Balochistan government have signed a new agreement with Barrick Gold Corporation of Canada for extraction of gold and copper reserves from Reko Diq with an investment of $10 billion.
READ MORE: Pakistan stocks plunge 777 points on rupee devaluation
In E&P sector, OGDC and PPL stayed in the limelight as Federal Government’s 25 percent shareholding will be divided equally amongst three state-owned-entities (SOEs) – Oil & Gas Development Corporation Limited (OGDCL), Pakistan Petroleum Limited (PPL) and Government Holdings Pakistan Limited (GHPL).
Main board activity remained dull. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
READ MORE: Equities slip by 168 points in range bound trading
Sectors contributing to the performance include Fertilizer (+58.6 points), Cement (+37.8 points), E&P (+24.4 points), Banks (+21.0 points) and Inv Banks (+17.2 points).
Volumes decreased from 180.4 million shares to 124.9 million shares (-30.8 per cent DoD). Traded value also decreased by 38.4 per cent to reach US$ 21.7 million as against US$ 35.3 million.
Stocks that contributed significantly to the volumes include SMBL, HUMNL, WTL, TREET and EFERT.
READ MORE: Pakistan stocks gain 256 points on easing oil prices
KARACHI: The Pakistan Rupee (PKR) collapsed against dollar for sixth consecutive sessions on Monday and fell to new record low at Rs181.25 to the dollar.
The rupee lost 68 paisas against the dollar from last Friday’s closing of Rs180.57, which was the previous record low of the rupee against the dollar, in the interbank foreign exchange market.
READ MORE: Dollar continues to make historic high; hits Rs180.57
Currency experts said that external payment pressure had kept pressure on dollar demand.
The massive outflows of the dollar had resulted in over $12 billion current account deficit during first eight months of the current fiscal year.
Further, the external payments, foreign exchange reserves declined and it pushed the rupee to fall sharply.
READ MORE: Dollar climbs new peak PKR 180.07 at interbank closing
The foreign exchange reserves of the country fell by $386 million to $22.283 billion by the week ended March 11, 2022 as against $22.669 billion a week ago. The official reserves of the State Bank fell by $381 million to $15.831 billion by the week ended March 11, 2022 as compared with $16.212 billion a week ago.
READ MORE: Dollar advances to fresh high at Rs179.44
The oil prices in the international markets are highly volatile since the Russia-Ukraine war began on February 24, 2022. The benchmark Brent crude is currently trading at around $108 per barrel (March 18, 2022 at 4:30 PM PST), which fell below $100 per barrel a few days ago, after making $140 per barrel.
The country spent $11.69 billion for the import of petroleum products during the first seven months (July – February) 2021/2022 as compared with $5.64 billion in the corresponding period of the last fiscal year, showing an increase of 107 per cent.
READ MORE: Dollar makes new record high at PKR 179.22
Similarly, dollar demand will rise due to imports related to holy month of Ramzan. The country usually imports palm oil and soybean oil for domestic consumption. The edible oil has also witnessed a sharp increase in prices during past few months.
Karachi, March 14, 2022 – The Chairman of the Federal Board of Revenue (FBR), Dr. Muhammad Ashfaq Ahmed, emphasized the need for a shift in the approach to withholding tax (WHT), suggesting that it should be levied on income rather than transactions. He made these remarks during an address at the Karachi Chamber of Commerce and Industry (KCCI) on Monday.
(more…)KARACHI, March 21, 2022 – The State Bank of Pakistan (SBP) has issued the exchange rates for Monday, March 21, 2022. These rates are based on the weighted average rates of commercial banks and are provided for informational purposes only, according to the SBP.
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KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs7,377,908.02 on March 21, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs7,465,493.84 on March 20, 2022.
The rate of Bitcoin in US Dollar (USD) is $40,902.36 on March 21, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $41,333.60 on March 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.
KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs145.56 on March 21, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs145.85 on March 20, 2022.
The rate of Ripple in US Dollar (USD) is $0.81 on March 21, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.81 on March 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.
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs21.63 on March 21, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs21.56 on March 20, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.12 on March 21, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.12 on March 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.
KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs7,520,496.42 on March 20, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs7,482,773.47 on March 19, 2022.
The rate of Bitcoin in US Dollar (USD) is $41,971.35 on March 20, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $41,760.83 on March 19, 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.
As of March 20, 2022, the exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) stands at Rs146.02 in the open exchange market. This figure marks a slight decrease from the previous day’s rate of Rs147.03, as calculated on March 19, 2022.
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