Karachi, Pakistan – The State Bank of Pakistan (SBP) announced the official exchange rates for January 28, 2022, based on the weighted average rates of commercial banks.
(more…)Author: Faisal Shahnawaz
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Bitcoin to Pak Rupee on January 28, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs6,607,031.50 on January 28, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs6,410,291.47 on January 27, 2022.
The rate of Bitcoin in US Dollar (USD) is $37,338.41 on January 28, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $36,240.92 on January 27, 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 January 28, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs107.76 on January 28, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs107.33 on January 27, 2022.
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Dogecoin to Pak Rupee on January 28, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs24.97 on January 28, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs24.93 on January 27, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.14 on January 28, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.14 on January 27, 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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Pandamart achieves milestone with opening 50th store
KARACHI: Pandamart, the country’s leading online groceries delivery platform has achieved a major milestone of establishing over 50 stores within just over a year since the first store was opened in Bahadurabad, Karachi in November 2020.
The 50th store was opened in DHA Phase 8, Karachi on the eve of the new year, on December 31, 2021.
This exponential growth means that a new store was opened practically every week of the past 12 months or so.
READ MORE: foodpanda demonstrates Pandafly drone at Dubai Expo
Online groceries shopping through pandamart is accessible on the foodpanda app.
Today, pandamart stores are spread across Karachi, Lahore, Rawalpindi, Islamabad and Hyderabad, with this countrywide network of stores catering to about 85 to 90 percent of the population within the cities covered.
There are now aggressive plans in place to further increase the number of stores and also expand into several other cities during this year.
READ MORE: Foodpanda welcomes PRA tax concession to homechefs
The present stores cover more than 350,000 square feet of floor space, stock more than 10,000 products of over 200 suppliers and vendors, employ over 1,250 people directly and create economic opportunities for the freelance rider community.
Speaking about pandamart’s rapid growth, foodpanda’s CEO, Nauman Sikandar Mirza said, “Q-commerce is definitely the future and pandamart is pioneering this sector boldly as is obvious from the growth we have achieved in such a short time period. Our mission is to vigorously support the government’s goal of realizing a digital Pakistan and documenting the economy, while offering unprecedented convenience and benefits to the public through online groceries shopping that is available 20 hours out of 24 every single day.”
READ MORE: CCP initiates probe against Foodpanda for discriminatory practices
Benefits of online groceries shopping include convenience of ordering from home instead of physically visiting shops particularly important during the covid panedmic, extremely fast delivery, assured high quality of products, especially of perishables like fruits and vegetables, competitive prices, and particularly relevant during Covid times, the minimizing of human contact and avoidable movement of people.
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Pakistan stocks gain amid concerns over rising oil prices
KARACHI: Pakistan stocks gained 128 points on Thursday amid concerns over rising oil prices and surge in coronavirus cases.
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NBP lends Rs18.8bn in Hascol’s Rs54bn scam
KARACHI: National Bank of Pakistan (NBP) has lent an amount of Rs18.8 billion out of Rs54 billion scam in Hascol Petroleum Limited.
National Assembly Standing Committee on Finance and Revenue on Thursday reviewed the performance of NBP.
The committee also discussed the recent Hescol loan scam of Rs 54 billion; of this NBP had lent Rs18.8 billion. MNAs expressed their reservations on loan security procedures, mainly when the amount of loan was so big.
READ MORE: NBP directed to pay Rs0.5 million to fraud victim
The committee expressed dissatisfaction over the performance of the bank and emphasized on more corrective steps on administrative and financing sides; especially for financial inclusion in rural and remote areas of the country.
Headed by MNA Faizullah, NA standing committee members included Abdul Wasay, Chaudhry Khalid Javed, Dr. Nafisa Shah, Ali Pervaiz Malik, Muhammad Israr Tareen, Qaiser Ahmed Sheikh, Faheem Khan and Jamil Ahmed Khan.
READ MORE: No disruption in transactions post cyber-attack on NBP
The chairman formed a sub-committee to look into the issues/queries raised by the standing committee members, and the discrepancies surfaced in the bank’s lending and administrative matters.
It will submit its detailed report to the main NA standing committee at the earliest for its recommendations to the concerned government authorities through the National Assembly.
Earlier, NBP’s Group Heads gave sector-wise presentations to the Committee.
The committee members desired that NBP President, who was on leave, would have been present and could better respond to their queries.
A day earlier, the bank said it was cooperating with the Federal Investigation Agency (FIA) in the multibillion scam.
READ MORE: NBP announces Rs17.04 billion as half year profit
The FIA arrested Mumtaz Hasan, founder of the Hascol Petroleum Limited (HPL), on January 23, 2022. It said a total of 30 suspects — including present and former top officials of the NBP, HPL and other organisations — had been booked in the case and that efforts were under way to arrest the remaining suspects.
“As has been reported in the press, the FIA is conducting an inquiry on Hascol Petroleum’s banking arrangements with the NBP as well as several private and other public sector banks,” the NBP said.
The bank said it had been and continued to cooperate fully with the FIA on this investigation and made available all relevant records and transactional history, including arranging meetings with its employees who have managed Hascol’s relationship with the bank.
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SBP issues KIBOR rates on January 27, 2022
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as of January 27, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 9.74 10.24 2 – Week 9.78 10.28 1 – Month 9.82 10.32 3 – Month 10.08 10.33 6 – Month 10.49 10.74 9 – Month 10.63 11.13 1 – Year 10.77 11.27 -
Customers’ exchange rates on January 27, 2022
Karachi, Pakistan – On Thursday, the State Bank of Pakistan (SBP) unveiled the official exchange rates for January 27, 2022, providing customers with crucial information based on the weighted average rates of commercial banks.
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Rupee ends firmer amid rising international oil prices
KARACHI: The Pak Rupee (PKR) ended flat against dollar on Thursday amid rising prices of international oil prices.
The local currency ended Rs176.98, the same previous day’s level against the dollar, in the interbank foreign exchange market.
READ MORE: Rupee sinks for third straight day against dollar
The rupee ended firmer today after witnessing a gradual decline since start of the current week.
The local unit cumulatively declined by 74 paisas during first three trading sessions of the current week from closing of Rs176.24 on January 21, 2022.
READ MORE: Rupee falls 23 paisas on dollar demand surge
Currency experts attributed the rupee depreciation to fall in foreign exchange reserves of the country and surge in dollar demand for import payments.
Pakistan’s liquid foreign exchange reserves dropped by $551 million to $23.35 billion by week ended January 14, 2022 as compared with $23.901 billion by week ended January 07, 2022.
READ MORE: Rupee plummets on high oil prices
The experts said that the rupee was under pressure due to higher payments for oil imports. They said that the dollar demand went up owing to rise in international oil prices.
The oil bill of Pakistan jumped by 113.4 per cent during first half of the current fiscal year. The bill surged to $10.18 billion during July – December 2021/2022 as compared with $4.77 billion in the corresponding period of the last fiscal year.