Karachi, Pakistan – On Wednesday, the State Bank of Pakistan (SBP) unveiled the official exchange rates for January 05, 2022, providing customers with essential information based on the weighted average rates of commercial banks.
(more…)Author: Faisal Shahnawaz
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Rupee recovers one paisa against dollar
KARACHI: The Pak Rupee (PKR) recovered one paisas against the dollar on Wednesday as import payment demand eased in the interbank foreign exchange market.
The rupee ended Rs176.75 to the dollar from previous day’s closing of Rs176.74 in the interbank foreign exchange market.
Currency experts said that the local unit was supported by ease in demand for the foreign currency.
They said that due to recent measures taken by the government regarding import restrictions resulted in recovery in rupee value.
The local currency recorded an all-time low of Rs178.24 to the dollar on December 29, 2021.
They said that through Finance (Supplementary) Ordinance, 2021 exemptions on many imported goods have been withdrawn.
The experts said that falling foreign exchange reserves are still major threat to rupee stability.
The official foreign exchange reserves of the State Bank of Pakistan (SBP) slipped by $299 million to $17.85 billion by week ended December 24, 2021 when compared with $18.15 billion a week ago.
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Bitcoin to Pak Rupee on January 05, 2022
KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) stood at Rs8,197,316.45 on January 5, 2022, in the open exchange market. This marks a slight increase compared to the previous day’s rate of Rs8,165,615.68 recorded on January 4, 2022.
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Ripple to Pak Rupee on January 05, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs146.62 on January 05, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs146.17 on January 04, 2022.
The rate of Ripple in US Dollar (USD) is $0.83 on January 05, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.83 on January 04, 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 January 05, 2022
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs29.93 on January 05, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs29.96 on January 04, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.17 on January 05, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.17 on January 04, 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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Customs Intelligence Karachi auctions imported vehicles on Jan 07
The Directorate of Customs Intelligence and Investigation Karachi has announced an upcoming auction of old and used imported vehicles scheduled for January 7, 2022.
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KSE-100 index gains 504 points on easing trade deficit
KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained 504 points on Tuesday as the trade deficit contracted.
The index closed at 45,391 points as against the previous day’s closing of 44,887 points, showing an increase of 504 points.
Analysts at Arif Habib Limited said that bullish momentum continued today as the confidence of investors gained due to improvement in economic numbers as trade deficit declined to $4.1 billion during December 2021 and drop down in food inflation.
READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22
The market opened in the green zone as traders took an aggressive bet on high beta stocks.
Tech stocks made the journey to the north as fresh allocation of funds towards the tech sector was initiated in order to make alpha returns.
In the last trading hour, across the board profit-taking was witnessed mainly in cyclical stocks. Activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks.
READ MORE: Headline inflation rises by 12.3% in December 2021
Sectors contributing to the performance include Technology (+112 points), Cement (+72 points), E&P (+59 points), Power (+42 points), and Pharmaceuticals (+36 points).
Volumes increased significantly from 195.2 million shares to 376.0 million shares (+92.6 per cent DoD). Traded value also increased by 96.1 per cent to reach US$ 72.3 million as against US$ 36.9 million.
Stocks that contributed significantly to the volumes include UNITYR3, TRG, WTL, TELE and FNEL.
READ MORE: Dollar advances to Rs176.75 on post-holidays demand
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SBP issues KIBOR rates on January 04, 2022
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as of January 04, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 9.76 10.26 2 – Week 9.81 10.31 1 – Month 9.89 10.39 3 – Month 10.27 10.52 6 – Month 11.22 11.47 9 – Month 11.24 11.74 1 – Year 11.29 11.79 -
Dollar advances to Rs176.75 on post holidays demand
KARACHI: The dollar gained against the Pak Rupee (PKR) on Tuesday owing to payment demand for imports as the market opened after three holidays.
The interbank foreign exchange market ended at Rs175.75 to the dollar from December 31, 2021 closing of Rs176.51.
Currency experts said that the market witnessed dollar demand for import payment as foreign exchange dealing was suspended for last three days.
The local unit recorded an all-time low of Rs178.24 to the dollar on December 29, 2021.
The experts said that falling foreign exchange reserves and scheduled repayments would remain challenge for rupee stability.
The official foreign exchange reserves of the central bank slipped by $299 million to $17.85 billion by week ended December 24, 2021 when compared with $18.15 billion a week ago. The official reserves of the SBP is import cover of 2.25 months, which is below the benchmark of three months.
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Customers’ exchange rates on January 04, 2022
Karachi, Pakistan – On Tuesday, the State Bank of Pakistan (SBP) unveiled the official exchange rates for January 04, 2022, providing customers with vital information based on the weighted average rates of commercial banks.
(more…)