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Exchange

Currency

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 31 Dec, 2015 12:00am
Exchange

Daily trading report of PMEX

On Tuesday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 3,229 million. The number of lots traded was 16.62 million. PMEX Commodity Index closed at 2,534. Major business was contributed by gold amounting to PKR 2,912 million followed by cr
Published 31 Dec, 2015 12:00am
Exchange

US natural gas jumps nine percent on colder weather

US natural gas prices surged more than 9 percent on Monday, the largest one-day gain in two months, as forecasts for colder temperatures led to bets that long-delayed winter weather was finally arriving. Gas futures on New York Mercantile Exchange rallied
Published 31 Dec, 2015 12:00am
Currency

China suspends forex business for some foreign banks

China's central bank has suspended at least three foreign banks from conducting some foreign exchange business until the end of March, three sources who had seen the suspension notices told Reuters on Wednesday. Included among the suspended services are l
Published 31 Dec, 2015 12:00am
Exchange

Petrochemicals pull Saudi down; Egypt breaks resistance

Petrochemical stocks pulled Saudi Arabia's main equity index down on Wednesday in the wake of gas feedstock price rises in the 2016 state budget, while Egypt's market rose in a broad-based rally, breaking technical resistance. The Saudi index, which had d
Published 31 Dec, 2015 12:00am
Currency

South African stocks close down

South African stocks extended losses for a third straight day, weighed down by the gold and financial sectors. That tracked a decline by global equities as commodity markets weakened. South Africa's rand weakened more than one percent in thin trade on Wed
Published 31 Dec, 2015 12:00am
Exchange

Apple and Amazon deliver rally on Wall Street

Wall Street rose sharply on Tuesday, elevating the S&P 500 to a modest gain for the year as Amazon and Apple led tech stocks higher. All 10 major S&P sectors ended with gains, led by a 1.34-percent rise in the technology sector, its strongest performance
Published 31 Dec, 2015 12:00am