Money Market, Forex and General Upadtes - 22-06-2011
Thursday, June 23, 2011
Money Market Updates
Money market opened at 13.00/25 and mostly traded in between 12.00% to 13.00% & low 11.00 and closed at floor.
Forex Market Updates
Dollar Market interbank opened at 85.65/70 with a high of 85.71 and a low of 85.55. Market closed at 85.54/56.
General Updates
The State Bank of Pakistan (SBP) has extended the limits sanctioned by banks to individual exporters under Part-II of the Export Finance Scheme (EFS) and Islamic Export Refinance Scheme (IERS) for the year 2010-11 to August 31. Export refinance limits sanctioned in favor of banks for the year 2010-11 were due to expire on 30 June, 2011.
Textile and Food sectors which have exhibited dramatic growth in exports have helped in pushing overall exports over the $22 billion mark during the last 11 months. Textiles was the major export sector which, having 55 per cent share in total exports, recorded 46.23 per cent growth over the same month of last year. Export of food items grew by 66.24 per cent. On the other hand, growth in manufacturing sector decreased by 2.6 per cent and Petroleum group by 11.7 per cent.
Labels: Economy and Business, Money Market, Pakistan Economy
posted @ 5:10 PM,
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