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Money Market, Forex and General Upadtes - 07-04-2011
Thursday, April 7, 2011

Money Market Updates:

State Bank of Pakistan (SBP) Wednesday accepted bids worth Rs. 184.7 billion for Government of Pakistan Market Treasury Bills (MTBs) with various maturities. The MTBs had face value amounting Rs 200.9 billion. The SBP realized bids worth Rs. 1.067 billion for MTBs with maturity of 3- month and cut-off yield of 13.3004 percent, Rs 130.3 billion for 6-month with cut-off yield of 13.6899 percent and 53.26 billion for 12-month with cut-off yield of 13.8684 percent. Non competitive rates for three, six and twelve months were 13.2542 percent. 13.6670 percent and 13.8294 percent respectively.

Forex Market Updates:

Dollar Market opened at 85.08/13 with a low of 84.80 and a high of 85.05. The rupee has appreciated in terms of dollar due to fewer payments in this week. Dollar closed at 84.85/90.

General Market Updates:

Pakistan's total rice export has crossed 2.734 million tons mark during nine months of current fiscal year, showing a decline of 772,928 tons over last year's 3.314 million tons. The value of rice exports has slipped by $ 123 million to $ 1.507 billion during July 2010-March 2011 compared to $ 1.630 billion same period last year.

The Standard Chartered Bank (SCB) has launched a new enhanced `Priority Banking offering' for Pakistan's increasingly sophisticated and discerning banking customers. The new service for customers with high investible assets combines highly customized financial solutions covering banking, borrowing, protection and investments, with exclusive new products such as the Visa Platinum Debit and Credit Cards.

As part of restructuring of Khushhali Bank Limited KBL (largest micro finance bank in Pakistan) agreed between State Bank of Pakistan and KBL shareholders, a consortium of shareholders (Sellers Consortium being represented and led by MCB Bank Limited) intends to divest its 79.2 percent shareholding in KBL along with transfer of management control (Equity Stake) to strategic Investor.

Labels: Development Economy, Economy and Business

posted @ 5:02 PM,

1 Comments:

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