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

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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Rupee remains stable against US dollar, Euro, Pound, Dirham and Riyal; check forex rates

Pakistani rupee remained stable against US dollar in the open bank market on Friday.

Dollar Rate in Pakistan Today

On Friday, the US dollar was being quoted at 285.3 for buying and 288.15 for selling.

Euro moves down to 311 for buying and 314 for selling. British Pound rate stands at 358.5 for buying, and 361.5 for selling.

UAE Dirham AED stands at 78 whereas the Saudi Riyal rate stands at 76.20.

Today's currency exchange rates in Pakistan – 1 December 2023

Currency Symbol Buying Selling
US Dollar ‎USD 285.3 288.15
Euro EUR 311 314
UK Pound Sterling GBP 358.5 361.5
U.A.E Dirham AED 78 78.7
Saudi Riyal SAR 76.2 77
Australian Dollar AUD 187.2 189
Bahrain Dinar BHD 759.67 767.67
Canadian Dollar CAD 209 211
China Yuan CNY 39.59 39.98
Danish Krone DKK 41.38 41.78
Hong Kong Dollar HKD 36.63 36.98
Indian Rupee INR 3.39 3.5
Japanese Yen JPY 1.49 1.56
Kuwaiti Dinar KWD 926.7 935.7
Malaysian Ringgit MYR 60.38 60.98
New Zealand Dollar NZD 173.44 175.44
Norwegians Krone NOK 26.25 26.55
Omani Riyal OMR 741.26 749.26
Qatari Riyal ‎QAR 77.63 78.33
Singapore Dollar SGD 211 213
Swedish Korona SEK 26.93 27.23
Swiss Franc CHF 325.9 328.4
Thai Bhat THB 8.23 8.38

Gold rates drop in Pakistan; Check today’s gold rates 1 December 2023

KARACHI – The gold price continues to climb up in the local market in line of upward trend in international market.

Gold Rates in Pakistan Today - 1 December 2023

On Thursday, the single tola of 24 Karat gold was available at Rs217,400, and the price for 10-gram gold reached Rs186,390.

Meanwhile, the 22 Karat Gold price stands at Rs199,282, 21 karat rate for each tola is Rs190,225 and 18k gold rate hovers around Rs163,050.

In international market, the price of precious metal hovers around $2,045 per ounce.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 217,400 PKR 2,696
Karachi PKR 217,400 PKR 2,696
Islamabad PKR 217,400 PKR 2,696
Peshawar PKR 217,400 PKR 2,696
Quetta PKR 217,400 PKR 2,696
Sialkot PKR 217,400 PKR 2,696
Attock PKR 217,400 PKR 2,696
Gujranwala PKR 217,400 PKR 2,696
Jehlum PKR 217,400 PKR 2,696
Multan PKR 217,400 PKR 2,696
Bahawalpur PKR 217,400 PKR 2,696
Gujrat PKR 217,400 PKR 2,696
Nawabshah PKR 217,400 PKR 2,696
Chakwal PKR 217,400 PKR 2,696
Hyderabad PKR 217,400 PKR 2,696
Nowshehra PKR 217,400 PKR 2,696
Sargodha PKR 217,400 PKR 2,696
Faisalabad PKR 217,400 PKR 2,696
Mirpur PKR 217,400 PKR 2,696

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