Market Updates || Wednesday 13 October, 2021|| Forex, Gold, Crypto|| PAK Rupees || 20% Beneficiary Steemit Pakistan

Greetings!,

Have a good day!

I hope you are all in good health. Please see today market news and updates. If you have any suggestion, please mention in comments.

Economic Analysis Report:

IMF has issued the GDP growth rate of Pakistan figure on Tuesday 12 Oct 2021. IMF forecasted a 4 per cent GDP growth rate with higher inflation and tenacious employment rate during the current fiscal year 2021. The same project growth rate was estimated by Asian Development Bank two weeks ago. World Bank has also estimated 3.4 per cent, which is the lowest GDP growth rate among all projection bodies. Pakistan has rejected world bank project GDP growth rate and explain that this is unrealistic.

All publisher has estimated same inflation rate for 2021. The inflation rate will be in the range of 8.4 % – 8.9 % in 2021. The State bank of Pakistan has little optimism in its forecast about all indicators of the economy. SBP has estimated higher GDP and lower inflation as compared to other publishers. But investors always trust unbiased resources valuations. Current Account (CA to GDP) has estimated deficit by all publishers which are -0.6% of GDP but SBP has estimated positive CA to GDP compare to others. Currently, the current account deficit is swelling day by day due to higher imports and lower exports. As per the last monetary policy report of SBP, the current account deficit was $ 0.8 billion in July and $ 1.5 billion in August 2021.

Date: Wednesday 13, Oct 2021

Crypto Market:

At time of writing 3:11 pm PST

Trend:

Short Term: Negative
Overall: Bearish (Downward)
*SBD and Steem are trading opposite to bitcoin and Ethereum.

Rates in Pakistan Rupees:

• BTC / PKR: 9,433,296 PKR (-) -3.2 % (if You want to purchase one bitcoin, then you have to pay that amount in PKR)

• ETH / PKR: 594,232 PKR (-) -2.92 % ( (if You want to purchase one Ethereum, then you have to pay that amount in PKR)

• SBD / PKR: 1,265.52 PKR (+) 4.69 % (if You want to Sell one SBD, then you will receive that amount in PKR)

• Steem / PKR: 103.54 PKR (+) 5.8 % (if You want to Sell one Steem, then you will receive that amount in PKR)

Rate in US Dollar

• BTC /USD: $ 54,827 (+) 1.77 % ( if You want to purchase one bitcoin , Then you have to pay that amount in US dollar)

• ETH /USD : $ 33,95.78 (-) -3.28 % ( if You want to purchase one Ethereum , Then you have to pay that amount in US dollar)

• SBD/ USD : $ 737 (+) 0.2875 % ( if You want to Sell one SBD, then you will receive that amount in US dollar)

• Steem / USD: $ 0.6017 (+) 2.52 % ( 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 ---------> 115,400 PKR

• 10 Gram : 24 KT -----> 98,940 PKR

Forex Market:

• USD/PKR: Buying 171.00 PKR, Selling 171.60 PKR

• SAR/PKR: Buying 45.30 PKR, Selling 45.50 PKR

• AED/PKR: Buying 47.70 PKR, Selling 48.00 PKR

• GBP /PKR: Buying 232.50 PKR, Selling 234.40 PKR

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=13_10_2021_009
5. https://www.coingecko.com
6. https://finance.yahoo.com/
7. https://sg.upbit.com/exchange?code=CRIX.UPBIT.USDT-ETH