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Gold Rates & Silver Rates from major cities of Pakistan

Wednesday, September 29, 2010 24K 10 Grams Gold Rates


Karachi      (24-ct)Rs. 36,171.00
Hyderabad (24-ct)Rs. 36,171.00
Lahore        (24-ct)Rs. 36,171.00
Multan       (24-ct)Rs. 36,171.00
Islamabad  (24-ct)Rs. 36,171.00
Faisalabad (24-ct)Rs. 36,171.00
Rawalpindi(24-ct)Rs. 36,171.00
Quetta        (24-ct)Rs. 36,171.00
InternationalUSD 1,309.000

Wednesday, September 29, 2010 24K Per Tola Gold Rates

 
Karachi      (24-ct)Rs. 42,200.00
Hyderabad (24-ct)Rs. 42,200.00
Lahore        (24-ct)Rs. 42,200.00
Multan       (24-ct)Rs. 42,200.00
Islamabad  (24-ct)Rs. 42,200.00
Faisalabad (24-ct)Rs. 42,200.00
Rawalpindi(24-ct)Rs. 42,200.00
Quetta        (24-ct)Rs. 42,200.00

PSE plans for future growth with NYSE platform

Asian trading venue the Philippine Stock Exchange (PSE) has migrated to NYSE Technologies’ NSC V900 trading platform, in anticipation of a rise in overseas investment levels. The move allows the PSE to handle larger trading volumes and process trades 10 times faster than previously.
NYSE Technologies, the commercial technology division of global exchange provider NYSE Euronext, launched NSC V900 in July 2010.
“In today’s increasingly competitive exchange industry, cutting-edge and high performance technology is a key differentiator for continued volume growth and product innovation,” said PSE president and CEO Val Antonio Suarez. “The migration of PSE to the NSC V900 trading system complements our business strategy to further increase liquidity in our capital markets and introduce new investment products.”
The firm is also providing the underlying technology infrastructure that will be used to link the exchanges of six members of the Association of Southeast Asian Nations (ASEAN). Under the initiative, Indonesia, Malaysia, the Philippines, Thailand, Vietnam and Singapore have agreed to link their exchanges electronically to facilitate cross-border order trading of orders by exchange members.
The PSE currently trades 250 listed firms and has 132 active participants, reporting an annual growth rate of 35.1% in the 12 months up to 27 September 2010.

Govt taking steps to control prices

ISLAMABAD : Prime Minister Syed Yousuf Raza Gilani said on Sunday that the government was taking steps to control prices of essential commodities.

The prime minister said this during a visit to Sunday Bazaar at Aabpara here. He inquired about the supply and prices of essential commodities. He said he has directed the authorities to strictly monitor the rates at shops.Minister for Information Qamar Zaman Kaira accompanied the Prime Minister.

China minister: U.S. move on yuan bill "redundant"

(Reuters) - A U.S. congressional panel's approval of a bill on China's currency is "redundant", China's vice commerce minister said on Monday, adding that China will set policy on its currency according to its own needs.
Vice Commerce Minister Chen Jian also told a media briefing on a visit to Taiwan that the yuan's recent rise would hurt China's exporters, but the effects would diminish over the long term.
The yuan CNY=CFXS rose against the dollar on Monday even though the central bank lowered its mid-point after nine days of stronger fixings in the face of growing U.S. pressure on Beijing to let the currency rise faster.
The U.S. House of Representatives Ways and Means Committee approved a bill on Friday, expected to be voted on this week, that would let the United States apply duties on goods from countries with undervalued currencies.

Brighter Outlook for Economic Recovery Makes Euro Stronger

Second Week of Gains for Euro, Analysts Continue Forecast Decline
The euro rallied last week despite the grim forecasts. This week the currency extended its rally, most notably against the dollar, against which it rose to the highest level since April. The analysts remained largely unconvinced, though, and continue predict the weakening of the euro.
It’s true that main reason for the euro’s strength against other currencies was the weakness of those currencies. The US dollar weakened after the Federal Reserve signaled about the next phase of the quantitative easing. The Japanese yen lost its strength on the talks about the intervention. The Great Britain pound suffered from the concerns about the possible influence of the budget cuts on Britain’s economy.
While all that is true, some good news from Europe itself also emerged. Germany was the main “producer” of the favorable data as the report about the improving German business climate and the increasing import and export prices contributed the most to the improving sentiment about the European economy. Nevertheless, most analysts think that the fundamentals remain largely depressed and the euro rose for the most part due to the weakness of the other currencies. Therefore, they don’t expect the rally to last long.
EUR/USD rose from 1.3050 to 1.3490 this weak, closing near its weekly high of 1.3493m the highest level since April 20th. EUR/GBP rallied from 0.8334 to 0.8523 after touching the weekly high of 0.8576. EUR/JPY went up from 111.89 to 113.67. This week was the second week of gains for the euro against all these currencies.
If you want to comment on the euro’s recent action or have any questions regarding this currency, please, feel free to reply below.

Gold hits record, silver reaches 30-yr peak

LONDON: Gold rallied to record highs in Europe on Friday, with spot prices knocking on the door of $1,300 an ounce, as expectations grew that further quantitative easing may lead to increased volatility in the currency markets.
Spot gold hit an all-time high of $1,299. 95 an ounce and was bid at $1,298. 30 an ounce at 1416 GMT, against $1,293. 50 late in New York on Thursday. US gold futures for December delivery hit a record $1,301. 60 an ounce and were later at $1,299. 60 an ounce, up $3. 30. Silver also reached its strongest in 30 years at $21. 45 an ounce, tracking gains in gold. Spot gold prices are struggling to take out resistance at the $1,300 an ounce level, but remain firmly underpinned by expectations of further weakness in the dollar, which slipped 1 percent versus the euro on Friday. With the dollar getting definitely weaker with the pass of every session, gold has little work to do other than to head higher to compensate for dollar s slide, said Pradeep Unni, senior analyst at Richcomm Global Services. Most of the market focus has been extreme dollar weakness and possible impact on the currency as the marketencounters weaker economic data. Gold has risen more than 4 percent so far this month and hit record highs for five consecutive sessions to Wednesday, extending gains after the Federal Reserve indicated it may consider further quantitative easing, undermining the dollar. The move came at a time when a number of major economies were moving to curb strength in their currencies in an attempt to bolster growth, boosting gold s appeal as an alternative investment. The US Fed is obviously contemplating, and the market is expecting, some kind of statement on quantitative easing, said Deutsche Bank analyst Daniel Brebner. The influx of new money in the system raises longer term expectations for inflationary forces. If you look at peripheral Europe, you have sovereign risks which have been increasing for both Ireland and Portugal. There is a likelihood that there will be some kind of move by the European Central Bank to resolve that challenge. These two factors, and the likelihood that the dollar value will continue to erode, mean there is potential for higher prices, he added. We could see some significant moves in gold and silver over the next quarter. SILVER HITS HIGHEST SINCE 1980From a technical perspective, gold is poised for further gains after an 18 percent rally so far this year. Reuters technical analyst Wang Tao said the metal could reach $1,539 an ounce by the end of the year, based on technical indicators. Silver prices are also well positioned after breaking through technical resistance at $21. 20 and $21. 35 to rally to their highest since 1980. It was later at $21. 34 an ounce against $21. 14. The metal has seen strong investor interest as gold has rallied, with holdings of the world s largest silver-backed exchange-traded fund, the iShares Silver Trust, rising to an all-time high of 9,582. 59 tonnes on Thursday. A sizeable factor underlying the current performance of the precious metals sector as a whole arrives from portfolio managers who, in an effort to erode less impressive market returns earlier in the year, are putting money to work in gold, but also silver, platinum and palladium, UBS analyst Edel Tully said in a note. While gold s investor audience continues to evolve, the rest of the precious metals have been on the receiving end of new interest over the past two months. Platinum was at $1,642. 75 an ounce against $1,638. 10, while palladium was at $561 against $550. 95.

International Forex Rate

International Forex Rate

Update on Sat, Sep 25 2010, 11:55 PST (GMT+5)
Major Currencies
Currency Units per USD USD per Unit
   Australian Dollar AUD 1.2488 0.8008
   Canadian Dollar CAD 1.0903 0.9172
   Euro EUR 0.7074 1.4137
   Japanese Yen JPY 95.4654 0.0105
   Pakistan Rupee PKR 81.11 0.0123
   U.A.E Dirham AED 3.6727 0.2723
   UK Pound Sterling GBP 0.6179 1.6185
   US Dollar USD 1 1

Other Currencies


Pakistan Open Market Exchange Rates

Pakistan Open Market Exchange Rates

Update on Sat, Sep 25 2010, 11:56 PST (GMT+5)
Currency Buying Selling
   Australian Dollar 80.6 81.6
   Bahrain Dinar 225.53 225.6
   Canadian Dollar 82.3 83.4
   China Yuan 12.7 13.2
   Danish Krone 14.9 15.3
   Euro 113.6 115.2
   Hong Kong Dollar 10.9 11.3
   Indian Rupee 1.8 1.85
   Japanese Yen 1 1.01
   Kuwaiti Dinar 292.3 294
   Malaysian Ringgit 27.2 27.8
   NewZealand $ 56 58
   Norwegians Krone 13.9 14.2
   Omani Riyal 220.8 221.8
   Qatari Riyal 23.4 23.5
   Saudi Riyal 22.7 22.9
   Singapore Dollar 63.85 64.85
   Swedish Korona 12 12.5
   Swiss Franc 84.8 85.8
   Thai Bhat 2.78 2.84
   U.A.E Dirham 23.2 23.4
   UK Pound Sterling 134.2 135.8
   US Dollar 85.95 86.25

Gold Rates & Silver Rates from major cities of Pakistan



                                   Friday, September 24, 2010 24K 10 Grams Gold Rates


Karachi (24-ct)Rs. 35,528.00
Hyderabad (24-ct)Rs. 35,528.00
Lahore (24-ct)Rs. 35,528.00
Multan (24-ct)Rs. 35,528.00
Islamabad (24-ct)Rs. 35,528.00
Faisalabad (24-ct)Rs. 35,528.00
Rawalpindi (24-ct)Rs. 35,528.00
Quetta (24-ct)Rs. 35,528.00
InternationalUSD 1,298.000

IMF sees Pakistan inflation accelerating


KARACHI : Inflation in Pakistan is expected to accelerate to 13.5 percent this year as massive summer floods push up prices for food and other staples, the International Monetary Fund said in its country report.Prior to the disaster, the IMF had projected average inflation for the current 2010/11 fiscal year at 11.5 percent, slightly below the 11.7 percent seen last year.
The economic outlook has deteriorated sharply as a result of the floods, the IMF said, adding that gross domestic product (GDP) growth was unlikely to exceed 2.75 percent this fiscal year.The government earlier had targeted GDP growth of 4.5 percent this year, whereas the IMF expected it at 4.25 percent. The agriculture sector -- which accounts for 21 percent of GDP and 45 percent of employment -- has been hit particularly hard, the IMF said. An estimated 8percent of total cropped area has been flooded, with very significant damage to industrial crops.Prime MinisterYousuf Raza Gilani has estimated the damage to crops and infrastructure could hit $43 billion, almost one quarter of last year s GDP.INFLATION WAS ALREADY STUBBORNLY HIGHThe IMF said growth had been picking up before the floods in late July and August, while inflation was stubbornly high. The State Bank of Pakistan (SBP) raised its key policy rate by 50 basis points to 13 percent in July prior to the floods. The next monetary policy for the subsequent two months is due to be announced on Sept. 29. The SBP is facing a difficult balancing act, the IMF said.The government s domestic net financing needs will increase after the floods and about 2 trillion rupees in treasury bills have to be rolled over this fiscal year, while domestic private demand will soften and undermine the already weak recovery in private sector growth. These considerations will have to be weighted carefully in deciding the monetary policy stance, the IMF said.Pakistan s inflation accelerated to a four-month high in August as the floods forced food prices higher. The consumer price index rose a higher-than expected 13.23 percent from a year earlier and was up 2.5 percent from July.Earlier, analysts had expected the SBP to wait for the release of a damage assessment report in mid-October before deciding on any policy action, but with inflation stronger than expected, there are fears that the SBP may hike the policy rate soon.



Forex Rates (Pakistan)

                        Updated on: Thu, September 23, 2010, 11:24 (PST)
                                                 Courtesy : ECAP
                      Remittance            Buying          Selling              Trends
                          USD                     85.50           86.00                   
                          GBP                     132.54         134.54                 
                          SR                        22.67            22.87                 
                          UAE                     23.15            23.40                  
                          AUS                     80.67            81.90                 
                          EUR                     112.50          114.93                
                          CAD                     82.02            83.21                  
                           IND                      1.58              1.68                   
                          JPY                      1.0005           1.0126              

US Dollar Rate In Pakistan

US Dollar                                                                              Buying 85.50
                                                                                                    Selling 86.00
 

Short Term Interest Rates

Short Term Interest Rates

            US 0.25%
            Japan 0.10%
            EURO 1.00%
            UK 0.50%
            AUS 3.75%    
           CAN 0.25%