Pkrevenue.com

Author: Faisal Shahnawaz

  • Dollar eases by 12 paisas to PKR in interbank

    Dollar eases by 12 paisas to PKR in interbank

    KARACHI: The US dollar fell by 12 paisas against the Pak Rupee (PKR) on Friday due to decline in oil prices in the international markets.

    The rupee ended Rs178.51 to the dollar as compared with previous day’s close of Rs178.63 in the interbank foreign exchange market.

    READ MORE: Rupee ends flat to dollar, maintains all-time low level

    The dollar hit all-time high to the PKR at Rs178.63 a day earlier. The local currency was under pressure since the start of Russia-Ukraine war, which skyrocketed the oil prices in the international markets. Pakistan is highly reliant on the import of petroleum products.

    READ MORE: Dollar inches up to make new high at PKR 178.63

    The import bill of petroleum group recorded an increase of 107 per cent to $11.7 billion during the first seven months of the current fiscal year as compared with $5.64 billion in the corresponding months of the last fiscal year. The rupee value was also under pressure due to surge in demand of imported commodities due to holy month of Ramzan.

    READ MORE: Rupee falls to all-time low against dollar at Rs178.61

    The continuous decline in foreign exchange reserves also is also putting pressure on the local unit.

    The liquid foreign exchange reserves of the country slipped by $206 million to $22.669 billion by the week ended March 04, 2022 as against $22.875 billion a week ago.

    READ MORE: Rupee ends near record low against dollar

  • SBP issues KIBOR rates on March 11, 2022

    SBP issues KIBOR rates on March 11, 2022

    KARACHI: State Bank of Pakistan (SBP) on Friday issued the Karachi Interbank Offered Rates (KIBOR) as of March 11, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week9.7910.29
    2 – Week9.8610.36
    1 – Month10.0710.57
    3 – Month11.0411.29
    6 – Month11.6911.94
    9 – Month11.7712.27
    1 – Year11.8212.32
    SBP issues KIBOR rates on March 10, 2022
  • Customers’ exchange rates on March 11, 2022

    Customers’ exchange rates on March 11, 2022

    Karachi, March 11, 2022: The State Bank of Pakistan (SBP) has published the official exchange rates for March 11, 2022, providing a snapshot of the currency values against the Pakistani Rupee.

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  • Bitcoin to Pak Rupee on March 11, 2022

    Bitcoin to Pak Rupee on March 11, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs6,935,172.67 on March 11, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs7,056,133.28 on March 10, 2022.

    The rate of Bitcoin in US Dollar (USD) is $38,750.03 on March 11, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $39,653.43 on March 10, 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.

    Bitcoin to Pak Rupee on March 10, 2022
  • Ripple to Pak Rupee on March 11, 2022

    Ripple to Pak Rupee on March 11, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs132.12 on March 11, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs132.24 on March 10, 2022.

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  • Dogecoin to Pak Rupee on March 11, 2022

    Dogecoin to Pak Rupee on March 11, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs20.70 on March 11, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs20.89 on March 10, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.12 on March 11, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.12 on March 10, 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 Pak Rupee on March 10, 2022
  • SBP’s reserves slip by $250 million on foreign payments

    SBP’s reserves slip by $250 million on foreign payments

    KARACHI: The official foreign exchange reserves of State Bank of Pakistan (SBP) declined by $250 million owing to external debt payments.

    The official reserves of the central bank decreased to $16.212 billion by week ended March 04, 2022. The central bank’s official reserves were $16.462 billion a week ago on February 25, 2022, the SBP said on Thursday.

    The SBP said the reserves were declined due to external debt and other payments.

    The total liquid foreign exchange reserves of the country fell by $206 million to $22.669 billion by week ended March 04, 2022 as against $22.875 billion as on February 25, 2022.

    The foreign exchange reserves held by commercial banks, however, increased by $44 million to $6.457 billion by week ended March 04, 2022 as compared with $6.413 billion a week ago.

    READ MORE: Pakistan’s forex reserves decline to $22.875 billion

  • SBP issues KIBOR rates on March 10, 2022

    SBP issues KIBOR rates on March 10, 2022

    KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as of March 10, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week9.8010.30
    2 – Week9.8810.38
    1 – Month10.0310.53
    3 – Month10.9711.22
    6 – Month11.6811.93
    9 – Month11.7612.26
    1 – Year11.8212.32
    SBP issues KIBOR rates on March 09, 2022
  • SBP receives $2.2 bn as workers remittances in February

    SBP receives $2.2 bn as workers remittances in February

    KARACHI: The State Bank of Pakistan (SBP) has received $2.2 billion as workers remittances during February 2022, a statement said on Thursday.

    With $2.2 billion of inflows during February 2022, workers’ remittances continued their strong performance and have remained above $2 billion since June 2020.

    In terms of growth, during February 2022, remittances increased by 2 percent on m/m basis despite fewer working days compared to January and fell by 2.7 percent on y/y basis.

    The overseas Pakistani workers have sent over $20 billion during first eight months (July – February) 2021/2022. The remittances have recorded a growth of 7.6 per cent during the period under review over the corresponding period of the last fiscal year.

    Remittances inflows during February 2022 were mainly sourced from Saudi Arabia ($558 million), United Arab Emirates ($387 million), United Kingdom ($319 million) and United States of America ($210 million).

    READ MORE:

    — Remittances increase to record $18 billion in 7 months

    — Exchange companies get incentive for dollar surrender

    — Incentives approved for exchange companies on dollar surrender

    — Pakistan’s remittances fall by 6.6% in November 2021

  • Pakistan stocks gain 810 points on sharp dip in oil prices

    Pakistan stocks gain 810 points on sharp dip in oil prices

    KARACHI: Pakistan stocks gained 810 points on Thursday owing to massive decline in international oil prices.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,854 points as against previous day’s closing of 43,043 points showing an increase of 810 points.

    READ MORE: Stocks gain 165 points on unchanged monetary policy

    Analysts at Arif Habib Limited said that the market opened positive and stayed in the green zone throughout the day due to decline in international commodity prices.

    The oil prices in the international markets fell sharply and recorded 13 per cent decline in a single day in last two years. The oil prices remained volatile since start of Russia-Ukraine war on February 24, 2021.

    Moreover, Investors opted for an accumulation across the board specially in the cement stocks. Volumes remained dull.

    READ MORE: KSE-100 index sheds 389 points in volatile trading

    KSE 100 index closed 810 points up, value buying was observed in the last trading hour.

    Sectors contributing to the performance include Cement (+217.5 points), Commercial Banks (+199.4 points), Technology (128.1 points), Automobile Assembler (+41.5 points) and Textile Composite (+33.6 points).

    READ MORE: Pakistan stocks nosedive on world oil, political unrest

    Volumes increased from 183.7 million shares to 271.9 million shares (+48.0 per cent DoD). Traded value also increased by 23.6 per cent to reach US$ 42.0 million as against US$ 34.0 million.

    Stocks that contributed significantly to the volumes include PAELR3, TPLP, WTL, FLYNGR1 and GGL.

    READ MORE: Weekly Review: market to remain jittery

    Analysts at Topline Securities said that Pakistan equities closed on a positive note where benchmark KSE100 Index settled at 43,854 level (up 1.88 per cent).

    Following international markets and decline in international commodities prices, KSE100 Index opened gap up and remained positive throughout the day where market make an intraday high of 878 points, they added.