KARACHI - HBL achieved disbursement of over Rs 1 billion in Electronic Warehouse Receipt (EWR) financing. The milestone was facilitated by quality warehousing of over 20,000 metric tons of maize and paddy/rice, (over 500,000 monds). HBL is a pioneer in EWR financing with a 60% market share and the only bank that has achieved the SBP targets allocated for this innovative product.
The facility enables farmers to store their maize/paddy harvest at warehouses accredited by an independent collateral management company for the EWR repository. Farmers can avail financing up to 70% of the value in a convenient and cost-effective way. This innovative financing solution supports farmers by avoiding distress sales and improving food security by minimizing post-harvest losses.
Commenting on this achievement Aamir Kureshi, Head Consumer, Agriculture & SME Banking – HBL, said, “EWR financing has the potential to transform the agricultural sector in Pakistan. It enables farmers access to quality warehousing and easy financing facilities against stored commodities without any conventional collateral. This helps in the reduction of post-harvest losses and improvement in farmers’ profitability. This will go a long way in bringing sustainability to food chains and uplifting rural communities. HBL is committed to supporting the ecosystem by creating awareness among various agri stakeholders including farmers.”
Pakistani rupee's value remained stable against US dollar, Euro, Pound, Dirham, Riyal and other currencies in the open market.
On Monday, the US dollar was being quoted at 285.15 for buying and 287.95 for selling.
Euro rate stands at 309.9 for buying and 310.5 for selling. British Pound GBP rate stands at 359.4 for buying, and 360.05 for selling.
UAE Dirham AED currently hovers around 77.45 while rate of Saudi Riyal stands at 75.82.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 285.15 | 287.95 |
Euro | EUR | 309.9 | 310.5 |
UK Pound Sterling | GBP | 359.4 | 360.05 |
U.A.E Dirham | AED | 77.45 | 77.6 |
Saudi Riyal | SAR | 75.82 | 75.97 |
Australian Dollar | AUD | 187.72 | 188.22 |
Bahrain Dinar | BHD | 759.94 | 767.94 |
Canadian Dollar | CAD | 209.99 | 210.49 |
China Yuan | CNY | 39.78 | 39.88 |
Danish Krone | DKK | 41.95 | 42.05 |
Hong Kong Dollar | HKD | 36.38 | 36.48 |
Indian Rupee | INR | 3.39 | 3.5 |
Japanese Yen | JPY | 1.49 | 1.56 |
Kuwaiti Dinar | KWD | 926.39 | 935.39 |
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 | 742.16 | 750.18 |
Qatari Riyal | QAR | 78.5 | 79.2 |
Singapore Dollar | SGD | 212.45 | 212.95 |
Swedish Korona | SEK | 27.09 | 27.19 |
Swiss Franc | CHF | 325.38 | 325.88 |
Thai Bhat | THB | 8.05 | 8.09 |
The gold remained under pressure as the precious metal moved down despite an upward trend in the international market.
On the first day of the week, the price of a single tola of 24-karat gold stands at Rs217,000 and 10 grams of 24k gold costs Rs186,043
A single tola of 22-karat gold costs Rs170,539, while 21 karat rate for each tola is Rs. 192,325 and the price of 18k gold is Rs164,850.
In the global market, gold prices hover at around $2086, gaining $14.44 on Monday.
City | Gold | Silver |
Lahore | PKR 217,000 | PKR 2,720 |
Karachi | PKR 217,000 | PKR 2,720 |
Islamabad | PKR 217,000 | PKR 2,720 |
Peshawar | PKR 217,000 | PKR 2,720 |
Quetta | PKR 217,000 | PKR 2,720 |
Sialkot | PKR 217,000 | PKR 2,720 |
Attock | PKR 217,000 | PKR 2,720 |
Gujranwala | PKR 217,000 | PKR 2,720 |
Jehlum | PKR 217,000 | PKR 2,720 |
Multan | PKR 217,000 | PKR 2,720 |
Bahawalpur | PKR 217,000 | PKR 2,720 |
Gujrat | PKR 217,000 | PKR 2,720 |
Nawabshah | PKR 217,000 | PKR 2,720 |
Chakwal | PKR 217,000 | PKR 2,720 |
Hyderabad | PKR 217,000 | PKR 2,720 |
Nowshehra | PKR 217,000 | PKR 2,720 |
Sargodha | PKR 217,000 | PKR 2,720 |
Faisalabad | PKR 217,000 | PKR 2,720 |
Mirpur | PKR 217,000 | PKR 2,720 |
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