Articles & Finance Updates

Central bank Foreign exchange reserves in US Dollar slightly declined as compare to the last week figures currently settled at $17.370 Billion from $17.506. In a long term perspective foreign exchange reverse are in uptrend, if we compare the same from last 6 months figure, we may batter analyze where the Pakistan foreign reserves were standing.
We saw the historic rose level of foreign exchange reserves at $16.992 billion on week ended October 08, 2010, figures are tracked from last six month can draw a clear line and an uptrend can be seen clearly from the July, 2010 to October, 2010 and now after six months it is at $17.37 billion, as per economist expectations it seems that rising foreign inflows may take the rising effect of foreign exchange reserves.

Congratulations’ to the Winner of 45 prize bond Draw of Rs.1500 Held at Faisalabad Pakistan.

First Prize Bond Winner:

428853        Rs.3000000     15-02-2011    FAISALABAD    45

Second Prize Bond Winners:

248550        Rs.1000000     15-02-2011    FAISALABAD    45
597170        Rs.1000000     15-02-2011    FAISALABAD    45
819082        Rs.1000000     15-02-2011    FAISALABAD    45

Third Prize Winners of Amount Rs.18500 can view their prize bond results by clicking prizebond link on the top of navigation menu at currency.com.pk please read below for the procedure.

As per the common observation of the economic trends it seems that US Dollar is getting unpopular gradually like United Kingdom Pond, before 1960’s British Pound was the only currency in which maximum trades were going on similarly today’s Us Dollar. Today maximum trades being held all around the world in US Dollar like OIL, Spot currency, Technology, Gold, Property.

USA is the king of trades and current situation is in 100% favor of Us Dollar like base currency of trade is US Dollar for Oil and in USA it is valued at $2.70. In other countries like Canada and Europe they bear upto 40% extra cost over it, similarly Russia has to bear almost 173%. In Pakistan to trade in oil first we have to purchase US Dollar this is why we always look at America for our economy.

The Rupee seen both ways during the week passed at January 29,2011 against US Dollar in the interbank market , It was setlled after the increment of 20 paisa at 85.61 on buying and 85.70 on selling in the open market Euro seen at  116.70 buying and 117.30 selling after the decrement of 1.15  into the open market.
The Pak Rupee is seems to stand against the US Dollar current behavior is not marking it at the lower and the upper side it is due to the resistance empowered against the US Dollar and Euro. This is also due to the increase observed in remittances The Rupee may take a recovery against the long term decline verses US Dollar.
Lets have a review of Pak Rupee against Dollar during last week.