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Mixed patterns were seen on the money market as the rupee moved both ways against the dollar during the week, ended on November 22, 2014. In the interbank market, the rupee rose by 55 paisa versus the dollar for buying and selling at Rs 102.20 and Rs 102.40.

The futures spreads rose by 196 basis points to reach 6.14 per cent during the outgoing week ended on November 21, 2014. During the last week, trading activity on the futures counter witnessed an upward trend and average daily volume surged by 31.3 per cent to 25.16 million shares. Similarly, with an increase of 24.3 per cent, the average daily trading value stood at Rs 2.782 billion at the end of the last week.
Finance Minister, Senator Mohammad Ishaq Dar on Sunday had preliminary meetings with the financial advisors regarding the issuance of Pakistan Islamic Bonds (Sukuk). The minister, who is in the United Arab Emirates (UAE), is scheduled to address investors' conference in Abu Dhabi on Monday morning. The minister would address another such conference in the afternoon, said a press statement issued by Ministry of Finance here.
The dollar showed slight gains against the rupee on the currency market on Saturday, dealers said. The rupee shed 10-paisa against the dollar for buying at Rs 102.20 while it fell by five-paisa for selling at Rs 102.40, they said. The rupee extended overnight gains versus the euro, rising 20-paisa for buying and selling at Rs 127.20 and Rs 127.25, they said.
United Bank Limited's share placement by the Privatisation Commission has received the "Best Deal Award" for Pakistan by The Asset - one of Asia's most prestigious corporate ranking journals. This award is given on an annual basis to the best performing capital market transactions selected from Asian countries.
Finance Minister Ishaq Dar left for Dubai on Saturday to hold roadshow to float $500 million Sukuk bonds in the international market, sources said. Sources added the Finance Minister after holding a roadshow in Dubai on Monday would leave for London. Dar stated during a recent media briefing that the government plans to increase country''''s foreign exchange reserves to $15 billion by December 31, 2014 through floating $500 million Sukuk bonds and receiving the fourth and fifth tranche amounting to $1.1 billion from the International Monetary Fund (IMF).
In order to develop a robust takaful sector, which can meet the risk mitigation needs of the masses and its commitment to develop the Islamic financial sector, the Securities and Exchange Commission of Pakistan (SECP) has allowed M/s SPI Insurance Company Limited, formerly known as Saudi Pak Insurance Company Limited, to start window takaful operations.

 



 
Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln