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US dollar drops against Pakistani rupee

The Pakistani Rupee Thursday strengthened against the US Dollar at Rs159.13 in the inter-bank market compared with Wednesday’s close of Rs159.51, according to the State Bank of Pakistan (SBP).

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US dollar drops against Pakistani rupee
GNN Media: Representational Photo

Per the data released by the Central Bank, PKR against Dollar appreciated by 38 paisas in the interbank market.

SBP data shows that the PKR devaluated 0.24% against the dollar.

Earlier, the SBP let the rupee depreciate massively in the inter-bank market after the finalisation of an agreement with the International Monetary Fund (IMF) for a loan programme on May 12, 2019.

The IMF has asked Pakistan to end state control of the rupee and let the currency move freely to find its equilibrium against the US dollar and other major world currencies.

Also, the World Bank, which finances some of the infrastructure and social safety net projects in Pakistan, has supported the idea of leaving the rupee free from state control in a bid to give a much-needed boost to exports and fix a faltering economy.

It may be recalled that during the current financial year, the exchange rate fluctuated sharply and in August 2020 (FY 21), the rupee depreciated to its lowest level against the dollar, reaching Rs168.70 on August 20 last year.

The rupee then began to recover and has improved significantly against the US dollar over the past four months.

The rupee had traded at Rs161.13 on January 16 this year, gaining Rs2.32 per dollar or 1.4 per cent. On February 12, the dollar traded at Rs158.81 in the interbank market, the lowest level in three months.

It should also be noted that the depreciation of the dollar and the appreciation of the rupee came at a time when the International Monetary Fund (IMF) delayed its program for Pakistan for more than a year.

“The supply and demand position of dollars and the upcoming data on the country’s forex reserves will determine the future direction of the rupee. The rupee should conclude this month at Rs157.8 - 158.5 per dollar,” said a currency exchange dealer.

It is important to mention that the Pakistani Rupee appreciates when a lesser amount of rupees is required to get one USD whereas PKR depreciates when more rupees are required to get one greenback.

Fateh Farooq is a senior editor at GNN, known for writing top quality content which garner very high readerships and has been covering every field of journalism, including politics, media, sports and scholarly articles. Fateh Farooq is nothing less than a Veteran Editor and has been writing for GNN for the past 7 months.

Pakistan

Pakistan's COVID-19 positivity rate drops to 4.22%

Pakistan is presently experiencing the fourth wave of coronavirus which is said to be deadlier and more contagious than previous three COVID waves.

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Pakistan's COVID-19 positivity rate drops to 4.22%

Islamabad: Pakistan's coronavirus positivity ratio decreased to 4.22% from more than 11% a couple of weeks ago.

Pakistan is presently experiencing the fourth wave of coronavirus which is said to be deadlier and more contagious than previous three COVID waves.

According to National Command and Operations Center (NCOC), around 2,167 cases of coronavirus were reported while 40 people succumbed to the disease in the last 24 hours, taking the total death toll to 27,246. The daily Covid-19 positivity rate in Pakistan is at 4.22%.

The total number of cases has reached 1,226,008.

As many as 1,135,038 patients have recovered from the disease with 4,840 critical cases.

Punjab             

The number of patients swelled to 422,790 in the province with 12,407 causalities.

Sindh

The number of infections has surged to 450,787 in the province, while the death toll has reached 7,270.

Khyber Pakhtunkhwa

The confirmed cases have surged to 171,388 in the province with 5,412 casualties.

Balochistan

There are 32,769 confirmed cases while 344 patients have died from the infection so far.

AJK and Gilgit-Baltistan

There are 33,787 coronavirus cases in the AJK while the death toll has reached 729. On the other hand, there are 10,245 cases in GB with 182 coronavirus deaths.

Islamabad

There are 104,242 cases in the capital city while 902 people have lost their lives

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Pakistan

Pakistan sees surge in COVID cases, active tally reaches 1,194,198

Islamabad: Pakistan is presently experiencing the fourth wave of coronavirus which is said to be deadlier and more contagious than previous three COVID waves.

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Pakistan sees surge in COVID cases, active tally reaches 1,194,198

According to National Command and Operations Center (NCOC), around 4,062 cases of coronavirus were reported while 84 people succumbed to the disease in the last 24 hours, taking the total death toll to 26,497.

The total number of cases has reached 1,194,198.

As many as 1,076,112 patients have recovered from the disease with 5,383 critical cases.

Punjab                 

The number of patients swelled to 408,758 in the province with 12,135 causalities.

Sindh

The number of infections has surged to 441,410 in the province, while the death toll has reached 7,073.

Khyber Pakhtunkhwa

The confirmed cases have surged to 166,564 in the province with 5,175 casualties.

Balochistan

There are 32,480 confirmed cases while 342 patients have died from the infection so far.

AJK and Gilgit-Baltistan

There are 33,037 coronavirus cases in the AJK while the death toll has reached 714. On the other hand, there are 10,109 cases in GB with 179 coronavirus deaths.

Islamabad

There are 101,840 cases in the capital city while 879 people have lost their lives.

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Sports

SumaiL and YawaR to contest for $40 million prize money from Dota 2, The International 10

Two Pakistani brothers, Syed Sumail "SumaiL" Hassan and Yawar "YawaR" Hassan will participate in The International 10 which has a prize pool of $40 million.

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Phote: Yawar "YawaR" Hassan (left), Syed Sumail "SumaiL" Hassan (right) in their team jerseys

Hailing from Karachi, Pakistan, Syed Sumail "SumaiL" Hassan and Yawar "YawaR" Hassan have shown their immense talent in the well acknowledged MOBA and MMORPG game, Dota 2. Sumail has previously participated and won the 5th version of the tournament at the age of 16 years and 176 days old and became the youngest player ever to win over a million dollars. Both of them have briefly played together in the same team Quincy Crew, but Sumail left in nearly 3 weeks of being in the team. 

Sumail and Yawar are brothers. Yawar is 2 years older than Sumail. They both moved to Rosemont, Illinois when their family relocated in 2012 and started competing in the North American region where competition has always been very tough. Sumail's gameplay was so impressive that he was recruited by the number one North American ESports organization at that time in 2015, Evil Geniuses, who not only recruited him when he was only 16 years old but also gave him the responsibility of one of the leading core roles of the game, the midlane. Not only did he impress the world with his classy and bold plays, he proved his skills to the world by winning The International 2015, becoming the youngest millionare in the history of ESports.

His older brother Yawar, has also been competing at the highest level since they both began playing the North American region, however, Yawar only had the opportunity to play The Internation only once before, while Sumail had been participating in TIs since 2015 representing EG. This would be the second time the brothers will be up against each other representing different teams for a prize pool of $40 million.

SumaiL will be representing the team OG with the ingame name of OG.SumaiL in the coming tournament where he would be playing the role of a core player as position 1, more commonly known as the 'carry' position in the game, whereas Yawar will be playing in the well acknowledged team from North America, Quincy Crew, with the in game name QC.YS. His position would be the same as SumaiL's which is position 1.

Sumail in ESL Frankfurt 2015

SumaiL has been hailed as the King of the game for almost 6 years now given that he astonished the world with his immensely aggresive and smart plays when he used to play the role of position 2, also known as the midlaner, for the North American team 'Evil Geniuses'. In 2015, SumaiL claimed the Aegis of the Immortal, which is the name of the trophy presented to the winners of the largest esports tournament in the world, The International, Dota 2 Championships. His total earnings as of 21st of September, 2021 are $3,617,984.01 from 73 tournaments around the world, making him the highest esports earner as well as the youngest millionare in the history of eSports.

Yawar playing Dota 2
Yawar has prominently risen to fame in the recent years where he and his team the Quincy Crew, ranked number one in the North American region beating their rivals Evil Geniuses in the ranking system of Dota 2 called the Dota Pro Circuit (DPC) in the year 2020, following multiple tournament wins from different small to medium level tournaments of Dota 2. Due to Yawar's immensely versatile set of heroes, he has been playing a vital role in the team providing the team the ability to drive many different strategies due to his large hero pool. Yawar's current total earnings are $432,911 From 43 Tournaments.

The path to qualification for this year's The International was not at all easy for both the brothers as SumaiL was no longer playing in the DPC as he was a free agent, he played as a stand-in for Team Liquid, also a top tier team and a former TI winner, when one of their players Samuel 'Boxi' Svahn  decided to take a break, however, that pairing didn't work out as the team poorly performed in the Major. Yawar on the other hand, played immensely well in this tenure, beating top tier teams from around the world with his team QC. Due to multiple wins at the highest level, QC was already very high in the rankings of the DPC, following up with a mediocre performance in the Major where his team stood 6-7th place. This was enough to secure a position at The International 10 which will be held between Thu, Oct 7, 2021 – Sun, Oct 17, 2021.

For Sumail, the days turned to joy when he was recruited back to the only two times back to back TI winners in the previous years 2018 and 2019, OG as position 1 carry player, but it wasn't easy as OG had been poorly performing in the DPC causing them to be very lower ranked in the DPC rankings and due to this they had to fight through the NA qualifiers to earn a place at the TI to defend their title. The path through the qualifiers wasn't easy, fan favourite teams like Nigma, Team Liquid and Tundra ESports were also fighting in the qualifiers. However, once Sumail was settled in the team, his performances immensely improved and stunned many of their competitors as they marched through to the upper bracket finals in the qualifiers, only to be beaten by Tundra Esports and fall down to lower bracket where one of the toughest teams in the world, Team Nigma, was waiting for them. Following up with the loss to Tundra, OG didn't lose their motivation as they beat Team Nigma 2-1 in a best of three series to progress to the grand finals of the NA qualifiers where they had to face Tundra again. This time around, however, OG didn't make the same mistakes they previously made agaisnt Tundra and fought to the last battle and defeated them very convicingly in the 5th and final game of the grand finals which was a best of five, 3-2 to OG.

Tournament Dates to follow:

 Thu, Oct 7, 2021 – Sun, Oct 17, 2021

As Pakistanis, GNN wishes them the best of luck and is rooting for the both of them.

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