The Pakistani Rupee (PKR) made a modest gain against the US dollar on Thursday, appreciating by two paisas to close at Rs174.87 in the interbank foreign exchange market, compared to the previous day’s closing rate of Rs174.89. Despite the high demand for import payments, positive market sentiment helped the rupee stabilize.
(more…)Author: Faisal Shahnawaz
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SBP issues KIBOR rates on February 10, 2022
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as of February 10, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 9.73 10.23 2 – Week 9.77 10.27 1 – Month 9.84 10.34 3 – Month 10.15 10.40 6 – Month 10.53 10.78 9 – Month 10.62 11.12 1 – Year 10.70 11.20 -
Customers’ exchange rates on February 10, 2022
KARACHI: The State Bank of Pakistan (SBP) on Thursday issued customers’ exchange rates for February 10, 2022. The exchange rate is on the basis of weighted average rates of commercial banks.
The SBP said the data is compiled and disseminated for information only. These exchange rates are estimates that quoted by various commercial banks to their clients.
The banks provide their indicative exchange rates for commercial transactions with customers.
CURRENCY BUYING SELLING AED 47.6714 47.7824 AUD 125.5087 125.7944 CAD 138.0574 138.3703 CHF 189.3244 189.7747 CNY 27.5525 27.6128 EUR 199.9577 200.4259 GBP 236.7872 237.3628 JPY 1.5130 1.5166 SAR 46.6477 46.7545 USD 174.9777 175.4005 -
Bitcoin to Pak Rupee on February 10, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs7,774,999.46 on February 10, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs7,573,563.03 on February 09, 2022.
The rate of Bitcoin in US Dollar (USD) is $44,388.21 on February 10, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $43,426.86 on February 09, 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 February 10, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs153.89 on February 10, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs147.89 on February 09, 2022.
The rate of Ripple in US Dollar (USD) is $0.88 on February 10, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.85 on February 09, 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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Dogecoin to Pak Rupee on February 10, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs27.75 on February 10, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs27.20 on February 09, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.16 on February 10, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.16 on February 09, 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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K-Electric to raise Rs12 billion through Sukuk
KARACHI: K-Electric Limited, the leading power generation and supply company, has announced plans to raise Rs12 billion through the issuance of Sukuk.
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Stocks gain 392 points in bullish trading
KARACHI: Pakistan stocks gained 392 points on Wednesday as the market witnessed bullish trading during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 46,340 points as against previous day’s closing of 45,948 points, showing an increase of 392 points.
READ MORE: Stocks end up 107 points in volatile trading
Analysts at Arif Habib Limited said that bullish momentum was recorded today as Brent and WTI dropped from its seven-year high.
Oil slid more than two per cent from recent seven-year highs as the resumption of indirect talks between the United States and Iran could revive an international nuclear agreement and allow more oil exports from the OPEC producer.
READ MORE: Stocks shed 68 points despite initiating positive
Cement sector stayed under pressure due to higher international coal prices. In the banking sector, BAHL remained in the limelight as it announced tremendous financial result beating market expectations.
Physiological level of 46,000 was finally digested by the investors as across the board buying was observed in the last trading hour, which led the index to close in the green zone.
READ MORE: Weekly Review: Sentiments to positive on PM China visit
Sectors contributing to the performance include Banks (+123.7 points), Fertilizer (+73.6 points), E&P (+42.6 points), Power (+25.6 points) and Cement (+21.5 points).
Volumes increased from 187.4 million shares to 243.1 million shares (+29.8 per cent DoD). Traded value also increased by 40.0 per cent to reach US$ 56.8 million as against US$ 40.6 million.
Stocks that contributed significantly to the volumes include TREET, KEL, HUMNL, WTL and EPCL.
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SBP issues KIBOR rates on February 09, 2022
KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the Karachi Interbank Offered Rates (KIBOR) as of February 09, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 9.70 10.20 2 – Week 9.75 10.25 1 – Month 9.82 10.32 3 – Month 10.13 10.38 6 – Month 10.48 10.73 9 – Month 10.58 11.08 1 – Year 10.67 11.17 -
PHMA cries foul on gas suspension to textile industry
KARACHI: Pakistan Hosiery Manufacturers & Exporters Association (PHMA) on Wednesday harshly condemned gas utility for abrupt suspension to export sector.
In a statement PHMA central chairman Shahzad Azam Khan said that Sui Southern Gas Company (SSGC) without serving any notice and offering any alternate arrangement suspended the gas supply, which is causing severe hindrances in industrial activities.
READ MORE: PHMA organizes seminar on export facilitation scheme
The PHMA Chairman, in an appeal sent to Prime Minister Imran Khan and Energy minister Hammad Azhar, has asked to take immediate cognizance of the aggravated situation and rescue the export-industries of Karachi from inequitable conduct of the SSGC. He made a request to the Federal Energy Minister to pass directives to the SSGC for restoration of gas connections of value-added textile export industry in Karachi.
He lamented that Prime Minister Imran Khan was all out to support the export-oriented sectors of Pakistan but some vested interests are bent upon frustrating the intents of the government by harassing exporters and hindering the unprecedented growth in exports.
READ MORE: PM appealed restoring gas to Karachi industrial zones
According to him, exports from Pakistan have registered an impressive uplift over the last few months due to unflinching support by the Prime Minister and coordination of the Energy Minister Hammad Azhar but the pace of potential upsurge in exports may be retracted by unfriendly attitude of the SSGC.
The PHMA Chairman observed that the export industries of Karachi have already been facing extreme gas outages and low gas pressure for the last more than three months despite of the assurance of the govt to supply uninterrupted gas to the export industries. Nonetheless, rather to admit and take the responsibility of the current gas crises due to unwise planning the SSGC Management has been blaming the top export industries as thieves which is highly deplorable.
“It is the deepest level of disrespect and disgrace to call exporters thieves who are the highest paymasters of SSGCL, supporting the national economy and export industry as the driving force, generating 68 percent revenue for the national exchequer and contributing 54 percent to total national exports, besides providing highest urban employment in Karachi.
He said that the SSGC management is also harassing and forcing the textile exporters to sign undertakings, which is very unfortunate.
Expressing concern, Shahzad Azam Khan condemned the SSGC for character assassination of Pakistani exporters in the eyes of international community. If the government and its organizations are hesitant to give the deserving recognition and due credit to exporters to strengthen the national economy and earn valuable foreign exchange for Pakistan then they should also refrain from damaging their character.
Is there any ulterior motive to purposefully target and victimize the industries of Karachi so they may shift elsewhere in Pakistan or abroad, he questioned. He requested the Prime Minister to call an immediate delegation of value-added textile exporters to have an insight of burning issues and problems being faced by exporters. He opined that the industries of Karachi must not suffer at the cost of maladministration and ill-planning of the SSGC who are responsible for the ongoing gas crises.
“Prime Minister Imran Khan must intervene to save the billions of dollars investment of value-added textile export and facilitate them in real spirit in the light of his vision to enhance exports to strengthen the economy of Pakistan.”