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KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the following Karachi Interbank Offered Rates (KIBOR) on October 12, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.20 | 7.70 |
| 2 – Week | 7.25 | 7.75 |
| 1 – Month | 7.29 | 7.79 |
| 3 – Month | 7.71 | 7.96 |
| 6 – Month | 8.07 | 8.32 |
| 9 – Month | 8.37 | 8.87 |
| 1 – Year | 8.61 | 9.11 |
KARACHI: The Pak Rupee (PKR) reached to a new historic low of Rs 171.04 against the dollar.on Tuesday in the interbank foreign exchange market.
Previously, the rupee recorded an all-time low at Rs170.96 against the dollar on October 06, 2021.
Currency experts said that the dollar demand for import payment was continuously depreciating the rupee value.
The import bill surged by 65 per cent to $18.63 billion during first quarter (July – September) of the current fiscal year as compared with $11.28 billion in the corresponding quarter of the last fiscal year.
It is important to note that the State Bank of Pakistan (SBP) during past couple of weeks took various measures to discourage outflow of dollars. However, these measures are unable to stop depreciation in rupee value.
The local currency remained under pressure since start of the current fiscal year. The local unit has lost Rs13.50 or 8.57 per cent against the dollar from Rs157.54 on June 30, 2021 to Rs171.04 to date.
Karachi, October 12, 2021: The State Bank of Pakistan (SBP) has issued the official exchange rates for Tuesday, October 12, 2021.
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KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on October 12, 2021 (The rates are updated at 12:20 PM):
| Currency | Buying | Selling |
| Australian Dollar | 123.50 | 125.00 |
| Bahrain Dinar | 386.75 | 388.50 |
| Canadian Dollar | 135.50 | 137.50 |
| China Yuan | 23.75 | 23.90 |
| Danish Krone | 23.45 | 23.75 |
| Euro | 196.00 | 198.00 |
| Hong Kong Dollar | 16.65 | 16.90 |
| Indian Rupee | 2.03 | 2.10 |
| Japanese Yen | 1.41 | 1.44 |
| Kuwaiti Dinar | 481.60 | 484.10 |
| Malaysian Ringgit | 36.45 | 36.80 |
| New Zealand Dollar | 96.35 | 97.05 |
| Norwegians Krone | 17.50 | 17.75 |
| Omani Riyal | 392.70 | 394.70 |
| Qatari Riyal | 39.80 | 40.40 |
| Saudi Riyal | 45.25 | 45.75 |
| Singapore Dollar | 123.50 | 125.00 |
| Swedish Korona | 18.30 | 18.55 |
| Swiss Franc | 159.80 | 160.70 |
| Thai Bhat | 4.80 | 4.90 |
| U.A.E Dirham | 46.50 | 47.10 |
| UK Pound Sterling | 232.00 | 234.50 |
| US Dollar | 170.80 | 172.80 |
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: State Bank of Pakistan (SBP) on Monday issued the following Karachi Interbank Offered Rates (KIBOR) on October 11, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.21 | 7.71 |
| 2 – Week | 7.25 | 7.75 |
| 1 – Month | 7.29 | 7.79 |
| 3 – Month | 7.71 | 7.96 |
| 6 – Month | 8.06 | 8.31 |
| 9 – Month | 8.36 | 8.86 |
| 1 – Year | 8.61 | 9.11 |
KARACHI: The State Bank of Pakistan (SBP) has relaxed financing conditions to promote investment in renewable energy solutions by companies.
The SBP in a statement on Monday said that it had softened the conditions for renewable energy solution providers under its Refinance Scheme for Renewable Energy.
Now, all Renewable Energy Investment Entities (RE-IEs) interested in installing renewable energy projects/solutions are allowed to avail refinance under category III of the scheme.
An RE-IE is a business entity (including vendors and suppliers) whose business is to establish renewable energy projects for onward leasing/renting out/selling on deferred payment basis or selling of electricity generated from these projects to end users.
It may be recalled that with an aim to help address the challenges of energy shortages and climate change, SBP revised its SBP Financing Scheme for Renewable Energy in July 2019.
SBP also launched a Shariah complaint version of the scheme in August 2019. The scheme now comprises of three categories. Under Category I, financing is allowed for setting up of renewable energy power projects with capacity ranging from 1 MW to 50 MW for own use or selling of electricity to the national grid or a combination of both.
Under Category II, financing is allowedto domestic, agriculture, commercial and industrial borrowers for installation of renewable energy based projects/solutions of up-to 1 MW to generate electricity for own use or selling to the grid/distribution company under net metering.
Under Category III, financing isallowed to vendors/suppliers/energy sale companies for installation of wind and solar systems/solutions of up to 5 MW. Since the inception of the scheme,717 projects having potential of adding 1,082 MW of energy supply through renewable sources have been financed. As of June 30, 2021, total outstanding financing under the Scheme is Rs53billion. While there is substantial take up under Category I & II, solution suppliers under Category III faced problems.
Accordingly, in light of the feedback received from stakeholders including renewable energy solution suppliers, Alternate Energy Development Board, NEPRA and banks, the requirement of AEDB certification has been relaxed for RE-IEs who do not undertake installations on their own but hire services of installers/vendors for installation of RE projects/solutions.
However, vendors/ suppliers/engineering procurement & construction (EPC) contractors of these RE-IE will still be required to be certified under AEDB certification regulations. It is expected that this revision in category III will further facilitate in production of clean energy.
Karachi, October 11, 2021: The State Bank of Pakistan (SBP) has released the official exchange rates for Monday, October 11, 2021.
(more…)KARACHI: The Pak Rupee (PKR) depreciated by 21 paisas against the dollar on Monday, closing at Rs170.74 in the interbank foreign exchange market. This decline followed Friday’s closing rate of Rs170.53, reflecting a surge in dollar demand for external payments.
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KARACHI: KSE-100 index companies recorded record profitability in FY21, growing by 60 per cent YoY to Rs884 billion mainly led by macro recovery post COVID-19 lockdowns in FY20.
This profitability was significantly higher than last 5-Year and 10-Year CAGRs of 8 per cent and 11 per cent, respectively, analysts at Toplines Securities.
The profitability of KSE-100 index was also better than that recorded in pre COVID-19 era of FY19, when profitability of KSE-100 stood at Rs624 billion, which means that profitability in FY21 is up 41 per cent in two-years. This boost in profitability was augmented by pent up demand and expansionary policy adopted by the State Bank of Pakistan (SBP) and the government.
To recall, SBP had reduced the Policy Rate by 625 basis points to 7 per cent in the first half of the fiscal year 2019/2020 and had maintained the Policy Rate of 7 per cent through FY21.
SBP also introduced relief schemes for corporates like Temporary Economic Refinance Facility (TERF), loan restructuring schemes and SBP Rozgar scheme. These schemes helped corporates get concessional financing, get loan repayment extensions and concessional financing for payment of employee salaries. This coupled with government pro-growth budget also aided profitability growth.
This is also evident from the fact that Finance Cost of KSE-100 index companies was down 37 per cent YoY to Rs87 billion in FY21. Net Sales of KSE-100 companies were up by 7 per cent YoY to Rs7 trillion whereas Gross Profits improved by 23 per cent YoY to Rs1.9 trillion. Consequently, Gross Margins improved to 27 per cent vs. 23 per cent in FY20.
In fourth quarter of FY21, profitability of KSE-100 index was up 85 per cent YoY and 6 per cent QoQ to Rs246 billion. Net sales of KSE-100 companies improved by 38 per cent YoY and 11 per cent QoQ.
For our analysis, we have taken 93 companies out of the total 100 companies (that have announced their results) which represent 98 per cent of KSE-100 market capitalization. We believe that adding remaining companies would not materially impact profitability growth trend.
KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on October 11, 2021 (The rates are updated at 12:20 PM):
| Currency | Buying | Selling |
| Australian Dollar | 123.00 | 124.50 |
| Bahrain Dinar | 386.75 | 388.50 |
| Canadian Dollar | 135.00 | 137.00 |
| China Yuan | 23.75 | 23.90 |
| Danish Krone | 23.45 | 23.75 |
| Euro | 195.00 | 197.00 |
| Hong Kong Dollar | 16.65 | 16.90 |
| Indian Rupee | 2.03 | 2.10 |
| Japanese Yen | 1.41 | 1.44 |
| Kuwaiti Dinar | 481.60 | 484.10 |
| Malaysian Ringgit | 36.45 | 36.80 |
| New Zealand Dollar | 96.35 | 97.05 |
| Norwegians Krone | 17.50 | 17.75 |
| Omani Riyal | 392.70 | 394.70 |
| Qatari Riyal | 39.80 | 40.40 |
| Saudi Riyal | 45.40 | 46.00 |
| Singapore Dollar | 123.50 | 125.00 |
| Swedish Korona | 18.30 | 18.55 |
| Swiss Franc | 159.80 | 160.70 |
| Thai Bhat | 4.80 | 4.90 |
| U.A.E Dirham | 47.20 | 47.80 |
| UK Pound Sterling | 231.80 | 234.30 |
| US Dollar | 170.40 | 171.40 |
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.