Money Market, Forex and General News - 08-07-2009
Thursday, July 9, 2009
- Money market opened at 12.50%. Overnight repo rates topped at 12.50% as well before market declined and closed at 10.35%.Market is functioning at decent pace and no liquidity crunch has been witnessed in last few days.
FOREX
- Inter-bank opened at 81.55 & 81.60.Market topped at 81.72 since stress on the demand side of US dollars depreciated the local currency. Rupee lost fifteen basis points at bid and offer to close at 81.70 & 81.75
GENERAL NEWS
- Pakistan has been ranked 100 among 121 world economies featured in ‘The Global Enabling Trade Report 2009’– a drop of 16 places.
- Pakistan’s neighbors secured slightly better positions even though their ranking deteriorated, India placed 76 and Sri Lanka 78 compared to 71 & 70 last year. Bangladesh slipped one spot to 111 while Nepal improved to 110 from 116. East Asian economies - Hong Kong and Singapore - occupy the top two positions in the Enabling Trade Index ranking, followed by Switzerland, Denmark and Sweden, according to The Global Enabling Trade Report 2009, released by the World Economic Forum. The Report, second edition, aims at presenting a cross-country analysis of the large number of measures facilitating trade.
- The Enabling Trade Index captures the free flow of goods over borders and to destination.
- The index breaks the enablers into four overall issue areas: market access, border administration, transport and communications infrastructure and the busines environment.
- Pakistan ranked 111 in the market access pillar, 63rd in business administration, 80 in transport and communications infrastructure and 102 in business environment.
Labels: Economy and Business, Pakistan Economy
posted @ 10:09 AM,
1 Comments:
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At July 12, 2009 at 4:19 AM,
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