Pkrevenue.com

Author: Faisal Shahnawaz

  • PKR slides 47 paisas to dollar on payment demand

    PKR slides 47 paisas to dollar on payment demand

    KARACHI: The Pak Rupee (PKR) fell by 47 paisas against the dollar on Friday owing to rising dollar demand for import payment demand.

    The rupee ended Rs175.86 to the dollar from previous day’s closing of Rs175.39 in the interbank foreign exchange market.

    READ MORE: Rupee rallies 28 paisas to dollar as world oil prices slide

    Currency experts said that the rupee remained under pressure during the day owing to dollar demand for import payments in the wake of next two weekly holidays.

    Further they said that the volatile international oil prices also adversely impacting the local unit.

    READ MORE: Dollar falls 11 paisas to PKR as global oil prices ease

    Pakistan is one of the major importers of the petroleum products. The upward movement in the international oil prices also increase the demand for the foreign currency in the local market.

    The oil import bill of the country surged by 107 per cent to $11.7 billion during the first seven months (July – January) of the current fiscal year as compared with $5.64 billion in the corresponding months of the last fiscal year.

    READ MORE: PKR slips for second straight day against dollar

    The experts said that the declining foreign exchange reserves were also another reason for depreciation in the rupee value.

    The liquid foreign exchange reserves of the country slipped by $231 million to $23.49 billion by the week ended February 11, 2022 as compared with $23.721 billion a week ago. Similarly, the official reserves of the State Bank of Pakistan (SBP) fell by $241 million to $17.096 billion by the week ended February 11, 2022 as compared with $17.337 billion a week ago.

    READ MORE: Dollar jumps up by 76 paisas to PKR on high oil prices

  • SBP issues KIBOR rates on February 18, 2022

    SBP issues KIBOR rates on February 18, 2022

    Karachi, February 18, 2022 – The State Bank of Pakistan (SBP) announced the latest Karachi Interbank Offered Rates (KIBOR) on Friday, reflecting the lending and borrowing rates for various tenors in the interbank market. The KIBOR is a crucial benchmark rate, serving as a reference for lending rates in the banking sector and providing an indication of prevailing market conditions.

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  • Customers’ exchange rates on February 18, 2022

    Customers’ exchange rates on February 18, 2022

    Karachi, February 18, 2022: The State Bank of Pakistan (SBP) has announced the official exchange rates for February 18, 2022, offering insights into currency values against the Pakistani Rupee.

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  • Ripple to Pak Rupee on February 18, 2022

    Ripple to Pak Rupee on February 18, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs139.11 on February 18, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs144.95 on February 17, 2022.

    The rate of Ripple in US Dollar (USD) is $0.79 on February 18, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.82 on February 17, 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 Pak Rupee on February 17, 2022
  • Dogecoin to Pak Rupee on February 18, 2022

    Dogecoin to Pak Rupee on February 18, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs24.87 on February 18, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs25.91 on February 17, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.14 on February 18, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.15 on February 17, 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 February 17, 2022
  • Pakistan’s foreign exchange reserves slip to $23.49 bn

    Pakistan’s foreign exchange reserves slip to $23.49 bn

    KARACHI: The total liquid foreign exchange reserves of Pakistan have declined by $231 million to $23.49 billion by week ended February 11, 2022, State Bank of Pakistan (SBP) said on Thursday.

    The foreign exchange reserves of the country were $23.721 billion by week ended February 04, 2022.

    The official reserves of the central bank fell by $241 million to $17.096 billion by week ended February 11, 2022 as compared with $17.337 billion a week ago.

    However, the foreign exchange reserves held by commercial banks slightly increased by $10 million to $6.394 billion by week ended February 11, 2022 as compared with $6.384 billion a week ago.

    Pakistan foreign exchange reserves rise to $23.72 billion
  • Foreign investment surges by 176% during July – January

    Foreign investment surges by 176% during July – January

    KARACHI: The overall inflow of foreign investment in the country recorded 176 per cent during first seven months (July – January) 2021/2022 due to the inflows of debt securities to the tune of $1.057 billion received in January 2022, according to data released by the State Bank of Pakistan (SBP) on Thursday.

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  • Stocks end down by 244 points on corporate results

    Stocks end down by 244 points on corporate results

    KARACHI: Pakistan Stocks ended down by 244 points on Thursday owing to below expectation corporate results.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,441 points as against 45,685 points, showing a decrease of 244 points.

    READ MORE: Stocks shed 47 points on inflation concerns

    Analysts at Topline Securities said that Pakistan equities commenced the day on a negative note in the backdrop of below expectation corporate announcement.

    Initially, ENGRO Corp announced the CY21 earnings where company announced Rupee 1 payout against the street expectation of Rupee 4-5.

    The reports flow regarding resumption in Russia/Ukraine tension further deteriorated investors’ sentiment which triggered selling across the board.

    READ MORE: KSE-100 index gains 88 points in range-bound trading

    During the day, the KSE 100 index made an intraday low at 45,259 level (-426 points; down 0.93 per cent). However, value hunting resumed at that level which assisted market to show some recovery and eventually settled at 45,441 level.

    Fertilizer, Power, Foods and Bank sectors’ stocks saw selling trend today where ENGRO, HUBC, DAWH and LUCK contributed negatively by losing 124 points. On the flip side, EFERT, MTL and HBL added 33 points collectively, today.

    About 153 million shares traded today while total value clocked in at Rs. 4.8 billion. WTL was volume leader of the day with 16.1 million shares traded in it, today.

    READ MORE: Stocks plunge 435 points on rising international oil prices

    Analysts at Arif Habib Securities said that the market remained under-pressure today due to inflationary concern arising from higher fuel prices.

    In cement sector, CHCC and KOHC remained in the limelight as it announced financial result in line with market expectations. Main board activity remained dull. Across the board selling was observed in the last trading hour, which led the market to close in the red zone.

    READ MORE: Stocks gain 139 points in range-bound trading

    Sectors contributing to the performance include Fertilizer (-56.0 points), Power (-42.0 points), Inv Banks (-36.4 points), Banks (-22.0 points) and Vanaspati & Allied (-16.7 points).

    Volumes increased from 145.3 million shares to 152.9 million shares (+5.2 per cent DoD). Traded value also increased by 15.5 per cent to reach US$ 27.2 million as against US$ 23.6 million.

    Stocks that contributed significantly to the volumes include WTL, HUMNL, TELE, KEL and UNITY.

  • SBP issues KIBOR rates on February 17, 2022

    SBP issues KIBOR rates on February 17, 2022

    KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as of February 17, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week9.7710.27
    2 – Week9.8110.31
    1 – Month9.8710.37
    3 – Month10.1910.44
    6 – Month10.5710.82
    9 – Month10.6411.14
    1 – Year10.7211.22
    SBP issues KIBOR rates on February 16, 2022
  • Rupee rallies 28 paisas to dollar as world oil prices slide

    Rupee rallies 28 paisas to dollar as world oil prices slide

    KARACHI: The Pak Rupee (PKR) rallied 28 paisas against the dollar on Thursday as decline in international oil prices continued.

    The rupee ended at Rs175.39 to the dollar from previous day’s closing of Rs175.67 in the interbank foreign exchange market.

    READ MORE: Dollar falls 11 paisas to PKR as global oil prices ease

    The rupee strengthened for the second straight day. It recovered around 39 paisas against the dollar owing to ease in oil prices in the international market.

    The oil import bill surged by 107 per cent to $11.7 billion during the first seven months (July – January) 2021/2022 as compared with $5.64 billion in the same period of the last fiscal year.

    READ MORE: PKR slips for second straight day against dollar

    On the other hand external inflows have supported the rupee to some extent. The State Bank of Pakistan (SBP) recently received over a billion dollars from the IMF and another a billion dollars under Sukuk proceeds, which helped the central bank to strengthen the foreign exchange reserves.

    READ MORE: Dollar jumps up by 76 paisas to PKR on high oil prices

    The total liquid foreign exchange reserves of the country increased by $1.637 billion to $23.721 billion by the week ended February 04, 2022 as against $22.084 billion by the week ended January 28, 2022.

    The official reserves of the State Bank climbed up by $1.61 billion to $17.337 billion by the week ended February 04, 2022 as compared with $15.727 billion a week ago.

    READ MORE: Dollar slips 16 paisas to PKR on rising forex reserves

    The local currency remained under pressure since the start of the current fiscal year. The rupee lost Rs17.85 or 11.33 per cent against the dollar from Rs157.54 on June 30, 2021 to the present level of Rs175.39.