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Money and Banking: Pakistan


An upward trend prevailed on the money market as the rupee improved with modest gains against the dollar and euro during the week, ended on March 28, 2015. In the interbank market, the rupee picked up 10 paisas versus the dollar for buying and selling at Rs 101.88 and Rs 101.90.

The annual financial statements of Soneri Bank Limited for the year ended 31 December 2014 were approved by the shareholders of the Bank in its 23rd AGM held on Friday, 27 March 2015. The meeting was chaired by Alauddin Feerasta, Chairman of the Bank.
Futures spreads grew by 549 basis points to reach 15.64 percent compared to 10.15 percent of the preceding week. The week under review saw the average trading turnover increasing by 201.3 percent to 63.85 million shares from the previous week''''s 21.19 million.
The rupee improved with slight gains against the dollar on the currency market in the process of trading on Saturday, dealers said.
Finance Minister Ishaq Dar Saturday chaired a meeting to review various options regarding the future working of SME Bank including its merger. The meeting was attended by senior officials from SME Bank, SBP, Finance Division and National Bank of Pakistan.
A meeting of the Board of Directors of The Bank of Punjab was held on Friday. During the meeting, audited financial statements of the bank for the year ended December 31, 2014 were approved by the board.
Gradual increase was seen in the value of the rupee against the dollar on local money market on Friday amid easy supply of the greenback, dealers said.


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln