Money and banking drive economic activity by facilitating transactions, savings, and investments. Banks manage financial resources, offer credit, and regulate money supply, ensuring stability and growth in Pakistan’s financial sector.
KARACHI: State Bank of Pakistan (SBP) on Monday issued the Karachi Interbank Offered Rates (KIBOR) as of December 13, 2021.
Following are the latest KIBOR rates:
| Tenor | BID | OFFER |
| 1 – Week | 9.27 | 9.77 |
| 2 – Week | 9.44 | 9.94 |
| 1 – Month | 9.77 | 10.27 |
| 3 – Month | 10.58 | 10.83 |
| 6 – Month | 11.28 | 11.53 |
| 9 – Month | 11.37 | 11.87 |
| 1 – Year | 11.44 | 11.94 |
KARACHI: The deterioration in Pak Rupee (PKR) value continued on Monday as the dollar touched new peak at Rs177.89 at closing of interbank foreign exchange market.
The PKR lost 18 paisas against the dollar to close at Rs177.89 as compared with last Friday’s closing of Rs177.71, which was the previous all-time high of dollar, in the interbank foreign exchange market.
READ MORE: Dollar makes new highs for 4th straight day at Rs177.71
Today’s was the fifth straight day when the dollar touched new record high as it made a record high at Rs176.79 on December 07, 2021. Since then the dollar is making new record every session.
Currency experts said that the high imports were the major reason behind rupee decline. They said that all efforts of the government to curb the imports of unnecessary and luxury items apparently failed as the trade deficit widened massively.
READ MORE: Dollar touches Rs178 intraday trading, retreats
The import bill of the country grew by 69.17 per cent to $33 billion during the first five months (July – November) 2021/2022 as compared with $19.47 billion in the corresponding months of the last fiscal year.
READ MORE: Dollar makes new high at PKR 177.35 at midday trading
The trade deficit during the months under review widened by 112 per cent to $20.59 billion as compared with the deficit of $9.72 billion in the corresponding period of the last fiscal year.
READ MORE: Rupee slide continues; dollar hits new high at Rs176.79
Karachi, Pakistan – The State Bank of Pakistan (SBP) released the official exchange rates for December 13, 2021, providing customers with valuable insights into currency values based on the weighted average rates of commercial banks.
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KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on December 13, 2021 (The rates are updated at 09:35 AM Pakistan Standard Time):
| Currency | Buying | Selling |
| Australian Dollar (AUD) | 125.00 | 126.50 |
| Bahrain Dinar (BHD) | 386.85 | 388.60 |
| Canadian Dollar (CAD) | 139.50 | 141.00 |
| China Yuan (CNY) | 23.50 | 23.90 |
| Danish Krone (DNK) | 23.50 | 23.80 |
| Euro (EUR) | 200.50 | 202.50 |
| Hong Kong Dollar (HKD) | 16.75 | 17.00 |
| Indian Rupee (INR) | 2.03 | 2.10 |
| Japanese Yen (JPY) | 1.41 | 1.44 |
| Kuwaiti Dinar (KWD) | 481.80 | 484.30 |
| Malaysian Ringgit (MYR) | 36.50 | 36.85 |
| NewZealand $ (NZD) | 96.55 | 97.25 |
| Norwegians Krone (NOK) | 17.50 | 17.75 |
| Omani Riyal (OMR) | 392.75 | 394.78 |
| Qatari Riyal (QAR) | 39.90 | 40.50 |
| Saudi Riyal (SAR) | 47.70 | 48.20 |
| Singapore Dollar (SGD) | 128.00 | 129.50 |
| Swedish Korona (SEK) | 18.50 | 18.75 |
| Swiss Franc (CHF) | 159.90 | 160.80 |
| Thai Bhat (THB) | 4.80 | 4.90 |
| U.A.E Dirham (AED) | 48.70 | 49.20 |
| UK Pound Sterling (GBP) | 236.50 | 239.00 |
| US Dollar (USD) | 178.70 | 180.45 |
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on December 13, 2021:
Buying: Rs 178.70 to the US Dollar
Selling: Rs 180.45 to the US Dollar
The buying rate means an exchange company or a bank buys foreign currency from a customer.
The selling rate means an exchange company or a bank sells the foreign currency from a customer.
The rate has been updated at 9:28 AM Pakistan Standard Time (PST).
The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand. Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on December 13, 2021:
Buying: Rs 48.70 to the UAE Dirham
Selling: Rs 49.20 to the UAE Dirham
The buying rate means an exchange company or a bank buys the foreign currency from a customer.
The selling rate means an exchange company or a bank sells the foreign currency from a customer.
The rate has been updated at 9:20 AM Pakistan Standard Time (PST).
The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on December 13, 2021:
Buying: Rs 236.50 to the UK Pound Sterling
Selling: Rs 239.00 to the UK Pound Sterling
The buying rate means an exchange company or a bank buys foreign currency from a customer.
The selling rate means an exchange company or a bank sells the foreign currency from a customer.
The rate has been updated at 9:10 AM Pakistan Standard Time (PST).
The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on December 13, 2021:
Buying: Rs 200.50 to the Euro
Selling: Rs 202.50 to the Euro
The buying rate means an exchange company or a bank buys foreign currency from a customer.
The selling rate means an exchange company or a bank sells for foreign currency from a customer.
The rate has been updated at 9:00 AM Pakistan Standard Time (PST).
The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand. Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on December 13, 2021:
Buying: Rs 47.70 to the Saudi Riyal
Selling: Rs 48.20 to the Saudi Riyal
The buying rate means an exchange company or a bank buys foreign currency from a customer.
The selling rate means an exchange company or a bank sells for foreign currency from a customer.
The rate has been updated at 8:50 AM Pakistan Standard Time (PST).
The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
National prize bonds (bearer or unregistered) are expiring this month and the bills will become a useless piece of paper after December 31, 2021.
The government has set a deadline of December 31, 2021, to withdraw bearer bonds with denominations of Rs7,500, Rs15,000, Rs25,000, and Rs40,000.
READ MORE: History of Prize Bonds in Pakistan
The holders of these bonds have been asked to exchange or convert those bills before the cutoff date.
The State Bank of Pakistan (SBP) data showed that bearer bonds worth Rs28 billion were still in the possession of the investors by the end of October 2021.
However, the bondholders surrendered these bills worth Rs437.59 billion during the last one year. The stock of these bearer bonds is Rs465.59 billion by October 2020.
In June 2019, the government decided to discontinue high denomination bearer bonds in a phased manner. The government on June 24, 2019, announced to discontinue the circulation of Rs40,000 denomination national prize bonds. Similarly, on December 10, 2020, the government announced to discontinue the circulation of Rs25,000 denomination prize bonds. In April 2021, the finance ministry announced that national prize bonds of denominations Rs7,500 and Rs15,000 shall not be sold.
READ MORE: Income tax on prize bonds, lottery winning
The bonds can be converted to premium prize bonds (registered) of denomination of Rs25,000 and Rs40,000 (subject to the adjustment of differential amount) through 16 field offices of SBP Banking Services Corporation, and branches of six commercial banks i.e. National Bank of Pakistan, Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited, and Bank Alfalah Limited.
The bonds can be replaced with Special Saving Certificates/Defence Saving Certificates through the 16 field offices of SBP Banking Services Corporation, authorized commercial banks, and the National Savings Center.
READ MORE: Sale of Prize Bonds Rs7,500, Rs15,000 stopped forthwith
The bonds will only be encashed by transferring the proceeds to the bonds holder’s bank account through the 16 field offices of SBP Banking Services Corporation as well as the authorized commercial bank branches and to the Saving Accounts at National Savings Centers.
Following the announcement to discontinue the bearer bonds the investments in premium prize bonds recorded a phenomenal surge.
The investment in premium prize bonds increased to Rs54.5 billion by the end of October 2021 as compared with Rs20.54 billion in the same month of the last year, showing an increase of 169 per cent.