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Firmness prevailed on the money market on Saturday as the rupee managed to recover modestly versus the dollar in the process of trading, dealers said.

The Pakistan Credit Rating Agency (PACRA) has assigned the IFS rating of "AA+" (Double A plus) to EFU General Insurance Limited (EFU General). The rating denotes very strong capacity of the company to meet policyholder and contract obligations.
Steadier trend was witnessed on the money market on Friday as the rupee almost managed to sustain overnight levels versus the dollar in the process of trading, dealers said. The rupee inched up by one paisa in relation to the dollar for buying and selling at Rs 101.74 and Rs 101.76 respectively, they said.
The State Bank of Pakistan (SBP) has decided to phase out all remaining old design banknotes of Rs 10, 50, 100 and 1000. According to SBP, as per federal government's gazette notification dated June 04, 2015, the old design banknotes will cease to be legal tender with effect from December 01, 2016. Therefore, it has now been decided to phase out all remaining old design banknotes of Rs 10, 50, 100 and 1000. The Rs 5 banknote and the old design Rs 500 banknote have already been demonetised.
The following were the revised rates of debt securities on Friday (July 03, 2015).

The State Bank of Pakistan (SBP) on Friday injected over Rs 822 billion into the banking system to cover the widening liquidity gap. Overall State Bank, conducting its Open Market Operation (OMO), injected some Rs 1.182 trillion into banking system during the last two days (July 2 and July 3, 2015) to avoid the liquidity shortage.
The International Monetary Fund (IMF) has set 4.3 percent budget deficit target as prior action for the current fiscal year including an adjuster of 0.3 percent of GDP (up to Rs 100 billion) on security expenditure and resettlement of Internally Displaced Persons (IDPs). The IMF staff level report on seventh review under the Extended Arrangement and Modification of Performance stated that "due to extraordinary circumstances, the authorities will incur one-off spending of up to Rs 100 billion (programme adjustor) on security enhancements related to fighting terrorism and resettlement of IDPs."

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln