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HBL partners with PMEX to promote Electronic Warehouse Receipt (EWR) Trading

Web Desk 09:10 PM | 8 Feb, 2023
HBL partners with PMEX to promote Electronic Warehouse Receipt (EWR) Trading
Source: The agreement was signed by Ejaz Ali Shah, Managing Director - PMEX, and Aamir Kureshi, Head Consumer, Agriculture & SME Banking – HBL. Senior members from both organizations were also present on this occasion.

KARACHI - HBL and Pakistan Mercantile Exchange (PMEX) signed a Memorandum of Understanding (MoU) to collaboratively create awareness of using the PMEX trading platform for HBL clients.

HBL and PMEX will work together to create awareness amongst the smallholder farmers for the adoption of the Electronic Warehouse Receipt Financing (EWRF) to achieve the broader objective of financial inclusion and poverty alleviation.

Speaking on the occasion, Aamir Kureshi, Head Consumer, Agriculture & SME Banking – HBL, said, “HBL is the market leader in Electronic Warehouse Receipt Financing (EWRF) and has actively partnered with the stakeholders for uptake of EWRF regime in Pakistan. EWRF has been established as the most convenient and cost-effective system of farmer financing against the crop harvest stored under quality warehousing. Through this partnership, we look forward to facilitating the farmers with better market access, price visibility, and transaction settlement.”

Speaking on the occasion, Ejaz Ali Shah, Managing Director - PMEX, said, “We are delighted to enter into a strategic partnership with HBL. We are committed to creating a vibrant, unified national market for indigenous agricultural commodities for ushering in economic growth. Together with HBL, we look forward to working on the propagation of EWR to help farmers achieve greater financial inclusion, avoid distress selling, improve earnings, and facilitate the Government of Pakistan in achieving documentation of trading of agriculture commodities.”

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on March 28, 2023

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on March 28, 2023 (Tuesday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 284.1 287.15
Euro EUR 304.5 307.5
UK Pound Sterling GBP 345.5 349
U.A.E Dirham AED 77.3 78.1
Saudi Riyal SAR 76 76.7
Australian Dollar AUD 187.5 189.9
Bahrain Dinar BHD 753.18 761.18
Canadian Dollar CAD 205.5 207.7
China Yuan CNY 41.44 41.84
Danish Krone DKK 41.30 41.73
Hong Kong Dollar HKD 35.92 36.27
Indian Rupee INR 3.41 3.52
Japanese Yen JPY 2.06 2.11
Kuwaiti Dinar KWD 924.09 933.09
Malaysian Ringgit MYR 62.84 63.45
New Zealand Dollar NZD 178 180
Norwegians Krone NOK 26.33 26.63
Omani Riyal OMR 735.91 743
Qatari Riyal ‎QAR 77.43 78.13
Singapore Dollar SGD 209.5 211.5
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 308.97 311.47
Thai Bhat THB 8.3 8.45

Today's gold rates in Pakistan – 28 March 2023

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 204,300 on Tuesday. The price of 10 grams of 24k gold was recorded at Rs175,160.   

Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,880.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 204,300 PKR 2,465
Karachi PKR 204,300 PKR 2,465
Islamabad PKR 204,300 PKR 2,465
Peshawar PKR 204,300 PKR 2,465
Quetta PKR 204,300 PKR 2,465
Sialkot PKR 204,300 PKR 2,465
Attock PKR 204,300 PKR 2,465
Gujranwala PKR 204,300 PKR 2,465
Jehlum PKR 204,300 PKR 2,465
Multan PKR 204,300 PKR 2,465
Bahawalpur PKR 204,300 PKR 2,465
Gujrat PKR 204,300 PKR 2,465
Nawabshah PKR 204,300 PKR 2,465
Chakwal PKR 204,300 PKR 2,465
Hyderabad PKR 204,300 PKR 2,465
Nowshehra PKR 204,300 PKR 2,465
Sargodha PKR 204,300 PKR 2,465
Faisalabad PKR 204,300 PKR 2,465
Mirpur PKR 204,300 PKR 2,465

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