Money Market and General Upadtes - 23-06-2011
Thursday, June 23, 2011
Money Market Updates
Money market opened at 13.00/25 percent with high of 13.85 percent and a low of 11.oo percent. Market closed at 11.00 percent
General Updates
The foreign exchange reserves of the country increased by dollars 353.9 million to dollars 17.518 billon. Foreign exchange reserves were dollars 17.518 billion on June 11 compared to dollars 17.164 billion on June 06. The break-up further showed that reserved held by SBP were dollars 14.085 billion and that held by other banks were dollars 3.433 billion.
Pakistan's current account surplus for the July-May period was a provisional $205 million, compared with a deficit of $3.402 billion in the same period last year. In May, the current account had a provisional deficit of $457 million, compared with a surplus of $630 million in April. The current account deficit for the 2009/10 fiscal year was $3.946 billion, compared with $9.261 billion in 2008/09 fiscal year.
The government budgetary borrowings from the banking system have witnessed a sharp rise of 75 per cent or Rs316.823 billion and have skyrocketed to Rs735.647 billion during a period ranging from July 1 to June 11 during the concluding financial year. The central bank recorded that Broad Money expanding to 14.50 per cent or Rs837.693 billion during the period under review against last year’s expansion of 9.72 per cent or Rs499.385 billion in monetary terms.
Labels: Economy and Business, Money Market, Pakistan Economy
posted @ 5:23 PM,
0 Comments:
Post a Comment