Market Updates || Monday 11 October, 2021|| Forex, Gold, Crypto|| Pak Rupees ||

Greetings!,

Have a good day!

I hope you are all in good health. Please see today market rates. If you want to add some other currency in it, please mention me in comments.

Date: Monday 11, Oct 2021

Crypto Market:

At time of writing 12:43 pm PST

Trend:

Short Term: Negative
Overall: Bearish (Downward)

Rates in Pakistan Rupees:

• BTC / PKR: 9,714,992 PKR (+) 2.07 % (if You want to purchase one bitcoin, then you have to pay that amount in PKR)

• ETH / PKR: 612,122 PKR (-) -0.12 % ( (if You want to purchase one Ethereum, then you have to pay that amount in PKR)

• SBD / PKR: 1,368.93 PKR (-) -3.60 % (if You want to Sell one SBD, then you will receive that amount in PKR)

• Steem / PKR: 104.62 PKR (-) -2.12 % (if You want to Sell one Steem, then you will receive that amount in PKR)

Rate in US Dollar

• BTC /USD: $ 56,710 (+) 1.99 % ( if You want to purchase one bitcoin , Then you have to pay that amount in US dollar)

• ETH /USD : $ 3,573.69 (-) -0.21 % ( if You want to purchase one Ethereum , Then you have to pay that amount in US dollar)

• SBD/ USD : $ 7.73 (-) -3.25 % ( if You want to Sell one SBD, then you will receive that amount in US dollar)

• Steem / USD: $ 0.62 (-) -1.26 % ( if You want to Sell one Steem, then you will receive that amount in US dollar)

Gold Market:

Gold ( Sarafa Market Karachi )

• 1 Tola : 24 KT ---------> 115,300 PKR

• 10 Gram : 24 KT -----> 98,850 PKR

Forex Market:

• USD/PKR: Buying 170.40 PKR, Selling 171.40 PKR

• SAR/PKR: Buying 45.40 PKR, Selling 46.00 PKR

• AED/PKR: Buying 47.20 PKR, Selling 47.80 PKR

• GBP /PKR: Buying 231.80 PKR, Selling 234.30 PKR

**Analysis on PKR forex: **

Pak rupees has depreciated 8.5 percent since start of the current fiscal year. At the end of last fiscal year June 30, USD/PKR was 154.54. After that PKR slipped down 8.5 % and reach at 170.96 on 6 Oct, 21. The state bank urgently want to stabilized USD/PKR but it can not to do so. There are three main reasons, first, SBP does not want to intervene in forex market and set the demand and Supply forces play its own way. Secondly, foreign reserves are very low for coming three months merchandise import. Thirdly, unclear situation in Afghanistan, after Taliban takeover in mid-August 2021.

Disclaimer: This is not a financial advice to invest in that particular coin/token. It's just my own analysis based on history and trend and anything can happen in Crypto anytime.

**Thank You Steemit Pakistan **

Respected Members
@hassanabid
@salmanwains
@steemit-pak

Sources:

1. https://seekingalpha.com/symbol/STEEM-USD
2. https://www.msn.com/en-xl/money/portfolio?ocid=winp1taskbar&duration=1D&comps=brjcfr
3. http://www.forex.com.pk/open_market_rates.asp
4. https://epaper.dawn.com/?page=11_10_2021_009
5. https://www.coingecko.com