Money Market, Forex and General Upadtes - 27-06-2011
Tuesday, June 28, 2011
Money Market Updates
Money market opened at 12.00/50 percent with a high of 12.50 and a low of 11.10 percent. Market closed at 11.10 percent.
Forex Updates
Interbank dollar market opened at 85.95/00 with a high of 86.20 and a low of 85.92. Market closed at 86.10/12
General Updates
The government in the next financial year 2011-12 has set growth rate at 3.7 percent for manufacturing Sector as a whole, while 2 percent and 7.5 percent growth rates have been fixed for large scale and small scale manufacturing respectively.
A South Korean conglomerate, Lotte, plans to invest up to dollars 500 million in Pakistan. The firm Lotte is the producer of pure terephthalic acid-a chemical widely used in the manufacture of
synthetic especially polyester.
Whereas the inflation rate during the current fiscal year remained over 14 percent and electricity went costlier by 24 percent, the petroleum products prices also soared by 28-60 percent. Petroleum products and furnace oil prices in international market during the year was seen hiking by 22-46 percent.
Remittances sent by overseas Pakistanis crossed $10 billion for the first time, hitting $10.1 billion in the first 11 months of the 2010/11 fiscal year, an increase of 25.20 percent compared with the same period last year.
posted @ 10:31 AM,
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