Trends - Remittances - Business Recorder

Remittances

Currency diary: Rupee appreciation marches on

The currency appreciation continues, crossing the psychological level of 155 on Friday. This is almost the pre-Covid...

Published 29 Mar, 2021 07:25am

Business & Finance

SBP launches a FX Portal for end-to-end digitalization of FX requests

The State Bank of Pakistan (SBP) has launched a Foreign Exchange (FX) Portal for end-to-end digitalization of FX requests.
Currently, customers of 22 banks can submit their cases digitally from their workplace.

Published 27 Mar, 2021 06:21pm

BR Research

Current account bliss continues.

The current account almost hung in balance in Feb21 – with a meager deficit of $50 million. The eight month...

Updated 24 Mar, 2021 10:05am

BR Research

FDI platter continues to shrink.

Foreign direct investment continues to post negative growth. Central bank’s latest data shows that net flows in...

Published 22 Mar, 2021 07:35am

Feb C/A deficit narrows $50m MoM

KARACHI: The country’s current account deficit narrowed to $50 million in February 2021 compared to $210 million ...

Updated 22 Mar, 2021 09:41am

Markets

Free-float exchange rate major contributor behind PKR rise against USD: Expert

The rise in Pakistan's remittances and exports and the accumulation of dollars in the SBP Roshan Digital Accounts are among the factors behind the rupee appreciation against the dollar.

Updated 19 Mar, 2021 12:00pm

BR Research

Remittances continue to surprise

Among the many unexpected is the continued as well as robust growth in home remittances to Pakistan. The country...

Published 16 Mar, 2021 07:25am

Jul-Feb remittances up 24.1pc YoY

KARACHI: Workers’ remittances continued to post a strong growth, surging by over 24 percent during the first eight...

Published 12 Mar, 2021 05:10am

Business & Finance

Workers Remittances see 'exceptional' growth of over 24pc in February

On a cumulative basis, remittances rose to an unprecedented $18.7bn during Jul-Feb FY21, up 24.1pc compared to the same period last year.

Updated 12 Mar, 2021 10:07am

BR Research

RDA gets going

The Roshan Digital Account (RDA) is gaining pace. The scheme was launched on 10th Sep 2020, and the amount received...

Published 23 Feb, 2021 07:25am

Remittances beat Moody’s expectation

ISLAMABAD: Increased workers’ remittances to Pakistan are credit positive for banks, says Moody’s Investor...

Updated 23 Feb, 2021 09:31am

Editorials

Resilient remittances?

EDITORIAL: The feel-good factor provided by high remittances for an unusually long time - exceeding $2 billion for...

Published 21 Feb, 2021 05:10am

BR Research

Remittance bonanza

The upbeat momentum of home remittances continues. The less travel and state level pressure to curb on informal...

Published 16 Feb, 2021 07:25am

PM cheerful at rise in remittances

ISLAMABAD: Prime Minister Imran Khan on Monday said the country had made its record for remittances above $2 billion...

Updated 16 Feb, 2021 09:31am

Pakistan

PM thanks overseas Pakistanis for record $2bn remittances for consecutive 8 months

He said to date in this fiscal year, the remittances were up by 24 percent as compared to last year.

Published 15 Feb, 2021 06:58pm

Pakistan

Record increase in remittances over last eight months: PM

He said large scale manufacturing saw another double digit growth of 11.4 percent in the month of December last year.

Published 15 Feb, 2021 06:33pm

Business & Finance

Pakistan’s Workers Remittances exceeded $2bn in Jan 2021

The growth in remittances recorded an increase of 19 percent over January 2020. However, remittances remained slightly lower from December 2020 level of $2.4 billion.

Updated 16 Feb, 2021 09:40am

Business & Finance

Cemex posts $70mn Q4 profit with higher sales in US, Mexico

The Monterrey-based company, which operates in more than 50 countries reported a 9% increase in net sales to $3.54 billion.
In the United States, Cemex's biggest market, net sales increased 8% to $1.0 billion, it said.

Published 11 Feb, 2021 06:33pm

Business & Finance

SBP Modernizes Foreign Exchange Regulations to facilitate Startups, Fintechs & Exports

The State Bank of Pakistan (SBP) has notified revisions in chapter 20 of the Foreign Exchange Manual to modernize foreign exchange regulations for facilitating startups, fintechs and exports in Pakistan.

Updated 10 Feb, 2021 09:56pm

BR Research

Currency – no excitement

The current account was in deficit in Dec-2020 after five straight months of surpluses. This coupled with SBP ...

Updated 27 Jan, 2021 10:38am

BR Research

Think out-of-box FDI (II)

While there is a need to rethink FDI policy and invigorate and charge up IPAs’ role – as highlighted last in ...

Published 22 Jan, 2021 07:35am

C/A surplus streak ends

KARACHI: Pakistan’s current account posted a $ 662 million deficit in December 2020 after surpluses for five...

Published 21 Jan, 2021 04:23am

BR Research

Think out-of-box FDI

As SBP puts it in its latest quarterly report, the ripple effect (decline in FDI from the pandemic) was not felt as...

Published 20 Jan, 2021 07:30am

Pakistan

IT exports remittances surge 38.16 percent

Export remittances comprising computer and call center services have surged to US $648.940 million during July-November of FY 2020-21.

Published 19 Jan, 2021 07:02pm

Business & Finance

Remittances from Overseas Pakistan projected to hit $28bn this year

“Interestingly, the government’s full year target is $21 billion while the central bank expects remittance inflows ranging between $24 billion to $26 billion. The current run rate indicates that inflows may hit $28.4 billion,” said Aslam.

Published 18 Jan, 2021 10:38am

Remittance growth: ephemeral or sustainable?

BR Research

Pakistan

Qureshi emphasises importance of ‘economic diplomacy’

ISLAMABAD: Foreign Minister Shah Mahmood Qureshi Wednesday asked Pakistan’s envoys based in African countries to...

Published 07 Jan, 2021 03:15am

Business & Finance

Explainer! How did Pakistan’s Remittances continue to grow despite COVID-19?

The central bank said that it has also significantly revised its forecast for remittances for CY20, from an initial projection of a 23 percent decline to a growth of 9 percent.

Published 06 Jan, 2021 11:45am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	158.33
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 26	5099.96
India Sensex / Apr 26	73730.16
Tokyo Nikkei / Apr 26	37934.76
Nasdaq / Apr 26	15927.90
Hang Seng / Apr 26	17651.15
FTSE 100 / Apr 26	8139.83
Dow Jones / Apr 26	38239.66
Germany DAX 30 / Apr 26	18161.01

Item	Value
Crude Oil USD/Barrel / Apr 26	83.85
Karachi Cotton PKR/37.32 KG / Apr 26	20535
Gold 10 Grams PKR / Apr 26	210048
Gold Spot USD/Ounce / Apr 26	2337.96
Cotton US¢/pound / Apr 26	80.90
Petrol/Litre / Apr 29	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 29 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 29 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 29 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 29 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 29 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 29 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 29 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 29 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 29 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 29 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 29 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 29 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 29 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 29 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 29 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 29 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 29 Telecard Limited(TELE)	12,358,668 ▲ 0.00

Markets →

Calculate your monthly liability in FY24

Remittances

Most Popular