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Money and Banking: Pakistan


The rupee managed to sustain last levels against the dollar on the money market during the week, ended on 1st Aug, 2015. In the interbank market, the rupee gained five paisas against the dollar for buying and selling at Rs 101.78 and Rs 101.79.

Sri Mulyani Indrawati, Managing Director/Chief Operating Officer of the World Bank visited Benazir Income Support Programme (BISP) Tehsil Office Saddar, Lahore on Sunday. She was accompanied by Ms Annette Dixon, Vice President, South Asia Region, David Warren, Advisor to the MD/COO, Rachid Benmessaoud, Country Director and other team members.
The futures spreads increased by 314 basis points (WoW) to reach 13.14 percent during the outgoing week ended on July 31, 2015. Trading activity on the futures counter also witnessed an upward trend and the average daily volume surged by 141.3 percent to 66.97 million shares. Similarly, with an increase of 116 percent (WoW), the average daily trading value stood at Rs 4.967 billion during last week.
Steadier trend was witnessed on the money market on Saturday in the process of trading, dealers said. The rupee managed to hold the overnight levels against the dollar for the second day at Rs 102.80 and Rs 103.00, they said. The national currency, however, shed 10 paisa in terms of the euro for buying and selling at Rs 112.10 and Rs 113.10, they said.
The State Bank of Pakistan (SBP) has extended timeline for effective implementation of its guidelines vis-à-vis Low Risk Bank Accounts. Introducing Asaan Account, the SBP, on June 22, 2012, had issued guidelines on Low Risk Bank Accounts with simplified due diligence, asking banks to implement the same by July 31, 2015. However, on the request of banks, the SBP has extended the deadline by two months.
World Bank Managing Director and Chief Operating Officer Sri Mulyani Indrawati arrived on Saturday on a three-day visit to Pakistan. She is accompanied by Annette Dixon, Vice President for the South Asia Region of the World Bank. During her visit, Indrawati will meet with the leadership in Pakistan to update herself on Pakistan's reform programme and discuss what support the World Bank can provide for it.
The rupee moved both ways against the dollar on the money market on Friday in the process of trading, dealers said. The rupee inched up by one-paisa versus the dollar for buying and selling at Rs 101.78 and Rs 101.79 respectively, they said.


Index Closing Chg%
Arrow DJIA 17,689.86 0.03
Arrow Nasdaq 5,128.28 0.01
Arrow S&P 2,103.84 0.23
Arrow FTSE 6,696.28 0.41
Arrow DAX 11,308.99 0.46
Arrow CAC-40 5,082.61 0.72
Arrow Nikkei 20,585.24 0.30
Arrow H.Seng 24,636.28 0.56
Arrow Sensex 28,114.56 1.48

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln