Pak Rupee is showing its strength against Us Dollar into the Interbank market, we have seen the Pak Rupee in Up trend throughout the week against US Dollar, Today Exchange Rates Rupee gained 10 Paisa against US Dollar for buying at 82.80 and selling at 82.85. This situation seems due to the Holy month Ramzan, as the month is going to its end Rupee is getting much stronger, as per the experts Pak Rupee Exchange rates will get more strength against US Dollar till Eid-Ul-Fitr,
OPEN MARKET RATES: The rupee for the third day held its overnight level in relation to dollar for buying and selling at 82.65 and 82.75.
This effect is also the on the desk of Rupee due to the increment of remittances as per the current month and last month’s figures , It has been recorded during August the remittance figure was $780.53 Million, In last fiscal year August 2008 the remittance was $592.30 Million, So as compare to the last year remittances increased up to $188.23 Million, this increment in percentage is 31.78%, As per experts that Rupee is getting good health inflows due to the increased level of remittances during last and current Month of Sept, 2009.
KARACHI - Foreign investment in Pakistan has dropped by 36 per cent during the first two months of current fiscal year 2009-10 amid substantial decline in the inflows of foreign direct investment and net outflows from the portfolio investment. Showing negative growth, the net inflow of foreign investment stood at $412.2 million during July-August 2009-10 against $646.4 million during the same period of last financial year. Similarly, the YoY growth in FDI fell by 57.4 per cent negative as Pakistan received a total of 351.4 million dollars worth foreign direct investment during the two months of current financial year from the inflow of 824.7 million dollars in the corresponding months of the last fiscal year. In the same way, portfolio investment at local bourses posted a massively negative growth of 134.1 per cent as recorded at $60.8 million in July-August FY10 against $178.3 million in the said period of FY09. According to the latest break up of foreign investment, the total foreign private investment inflow with privatisation and without privatisation proceeds declined to $412.2 million during respective two months of July-August 2009-10 from $648.0 million in the same course of FY09 by depicting 36.4 per cent negative growth. This turn out shows that it could not improve the deteriorating position of capital and financial account. The deceleration in foreign investment growth has been compensating by an augmentation in long-term loans. Also, prospects of global economic recovery and thus the revival of international investors sentiments remain week leading to uncertainty for Pakistans balance of payments position. It is interesting to note that Pakistan has attracted considerable amount of foreign investment from advanced economies of Western Europe, America, UK, and Germany however, at the same time, the sum up of FDI from most of the developed countries including North America badly suffered during analytical period of current fiscal year on account of domestic structural issues and global factors, such as, economic downturn in western economies, countrys bad law and order situation and some global liquidity constraints.
Nonetheless, investment inflows from Saudi Arabia and UAE to Pakistan were down to a great extent in two months of prevailing financial year. The total foreign private investment received from developed countries increased by 153 per cent as stood at 333.8 million dollars during July-August FY10 against 131.8 million dollars in the similar two months of last year. FDI from developed region dropped to 256.9 million dollars during July-August FY10 from 309.4 million dollars during the same period of FY09 where as port folio investment from said region reported to 76.9 million dollars or 143.3 per cent negative during the period under review from 177.7 million dollars during the last corresponding months of FY09. From Western Europe the total foreign investment amounted to $103.6 million, showing an increase of 110 per cent in growth during the said period against $93.3 million while FDI decreased to $83.9 million from $150.1 million in the July-August FY09. Port folio investment recorded at $19.7 million during July-August FY10 against $56.8 million in the same period of last fiscal. From U.S.A. Pakistan received significant 198 million dollars worth over all foreign investment as against $3.5 million, FDI amounted to $140 million from $123.2 million during July-August FY10. In foreign public investment equity securities of which GDRs of OGDC and debt securities, total investment sharply fell to 0.2 million dollars respectively during July-August FY09.
ISLAMABAD (APP) - Managing Director Pakistan Electric Power Company (PEPCO) Tahir Basharat Cheema on Tuesday said that an investment of around US$ 2 billion is expected in power sector through Rental Power Projects (RPPs). In a briefing given to media persons here, he said besides investment in power sector additional electricity of 1675 MW will be added in the system by December 2009 when nine rental power projects will start generation. He added an overall 2250 MW electricity will be generated through RPPs in current fiscal year. He said two rental projects have already started generation included Atlas Power (213MW) and Attock Generation (156MW) while remaining seven will start functioning by December 2009 included Nishat (196 MW), Engro (203MW), Saif Power (213MW), Fauji Foundation (176MW), Sapphire Electric Company (213MW) and Orient Power Company (213MW). He said all proposals of RPPs were accepted only with bid bonds, performance guarantee by sponsors, monthly rental payments are to be made only after commissioning of the plant while penalty will be recovered on delay in commissioning. He said there is no pressure from the government on any bank in the public or private sector to fund any rental project, adding, lenders to rental power companies undertake their own due diligence and take decisions based on their own financial position. He clarified that the rental tariff for the projects is different being dependent on factors including projects are located at different sites as per system requirements and projects have different fuel consumption and different fuels. He added others factors are variation in project cost due to difference in technology and age of machinery and variations in financing and sources and costs. Basharat Cheema said for the first time the idea of starting rental power projects was presented in 2005 when the country was facing acute power shortfall. He added since 2005, every government remained committed to work on RPPs to overcome energy deficit problem. He said it was the only option to have RPPs in the country as shortest possible time is required to generate electricity from RPPs. He said there are several other aspects that favors the idea of RPPs like such projects could be installed at any place as there is no need of large area for its installation unlike IPPs.
Forex is the abbreviation for foreign exchange, refers to the foreign currency or the foreign country currency expresses which can be use in the international settlement payment means and the property, mainly it includes the credit instrument, disbursement voucher, the negotiable securities and the foreign exchange cash and so on.
The International Monetary Fund defined Forex as the international creditor's rights which a country has, no matter this kind of creditor's rights are express by the foreign currency or expressed by the standard currency.
Exchange Rate Exchange rate, also known as the exchange price, it refers by a country currency being express by another country currency, or it is also the price ratio between both countries currency, generally it is being expressed by using the price proportion of both countries. For instance: USD/JPY=105.40, is being expressed a US dollar equal to 105.40 Japanese Yen, US dollar is also known as the unit currency, the Japanese Yen is known as the price currency.
In the foreign exchange market, the exchange rate is demonstrated by five numerals, for example:
Euro/US dollar: EUR/USD 1.3325
US dollar/Japanese Yen: USD/JPY 104.95
Pound/US dollar: GBP/USD 1.9337
US dollar/Swiss Franc: USD/CHF 1.2303
The exchange rate smallest change unit is, namely a final one-figure number digital change, is called an exchange rate basic point (Pip), abbreviation exchange rate spot, for example:
Forex trading isn’t strange words for those who looking forward to make quick profit in the financial market. Most investors will have at least hear or read about Forex trading. If Forex is a new term to you, please do read the Introduction to the Forex market before proceed reading this Forex trading article.
Forex trading is said to be the highest risk with highest return investment (or speculation game to be more accurate) in the financial market. The amount traded in the Forex market is much larger than any stock market or even combining few stock markets. Forex trading is simply a world wide trading market running 24 hours from Monday to Friday.
Everyday, there are new Forex traders entering into trading Forex. Some of them don’t even fully understand how Forex is traded but have already trading Forex. They are not idiot who want to burn their hard earned money, it’s just because Forex market is simply too lucrative market to enter with extreme high return. Any Forex traders can easily make a double return just in few minutes time trading Forex.
Forex trading is the trading of buying or selling certain currency. For example, buying US Dollar, then selling it later at a higher price to gain profit. Forex traders may also first sell US Dollar and later on buy it back at a lower price with the same gaining profit. It’s simple strategy of selling price minus buying price to make profit. In Forex trading, we just treat currency as a good, buy it and sell it.
You might now think how can Forex trading make huge profit just by selling and buying currency? Forex is traded using margin, Forex traders don’t need to full amount to buy any currency. For example, Forex traders just need 1000 Dollar to buy up 100,000 Dollar. This allows any Forex traders to make huge profit with little money.
Another important factor that any Forex traders can make huge profit is the high fluctuation for currency. Every day every seconds, the currency exchange rate is moving up and down, the Forex exchange rate fluctuate more heavily whenever there is any important economic data being released.
Forex trading is simply sounds too easy for anyone to make profit in very short time. But before you committed into Forex trading, it is strongly advised to have full understanding in Forex trading. Do read up other Forex trading articles in this website and share Forex trading knowledge in the Forex forums.
The Forex market has a lot of advantages compare to stock market:
A Forex trader could make profit through the market no matter if it is bearish and bullish which is different from the capital market, Forex has no strict regulation in speculation, no matter whether it is a long-term or a short-term transaction there is still a hidden profit, moreover, Forex market is a double-transaction market which means Forex traders could make profit through both upward and downward trend.
Forex traders could obtain a much larger transaction compared to the stock market, through the Forex trading, Forex traders could obtain 100 times larger transaction compared to the stock market. According to the present US situation, if a Forex trader invests $1,000 in the stock market, the trader may obtain $2,000 of stock domination property with a proportion of 2:1, but through Forex trading, a Forex trader can do transaction with a proportion up to 100:1.
Forex trader may make profit from the ordinary news, like the interest rate change, Forex market is closely related to various countries' politic, economy and culture, Forex traders could also obtain profit from other kinds of news, for example interest rate level change, will influence the interest of the Forex deposit.
Forex traders could do 24 hours trading. The stock market can only be traded during daytime at a specific time, generally from 9:30a.m. to 4:00p.m.. If you too have your own full time job, then you will face the dilemma - either to give up your full time job or forgo the trading opportunity. But Forex market can be traded 5 days a week and 24 hours a day, Forex traders can trade during their free time which is normally at night after working hour.
If a trader analyze based on technical analysis, Forex trading would be much more suitable for such traders because the Forex market has a very large trading volume. Currently the Forex market has daily trading volume of 190 billion Dollar, such giant market will completely digest a fore trader's transaction cash, under such situation the accuracy of the technical analysis would be much higher then any financial market, the chances of using technical analysis to make profit would be much more higher.
In the stock market there are hundred and thousand kinds of stocks, then choosing stock will be a very difficult matter. But in the Forex market, the currency combination is extremely limited, this may enable Forex traders to concentrate on these currencies combination, and could follow the trend quickly.
The Australian dollar opened at a fresh one-year high today after a bullish night of gold and oil trading boosted the commodity sensitive currency.
At 7am, the Australian dollar was trading at 86.17 US cents, up from yesterday's close of 85.91 US cents. It was also buying 79.55 yen, 59.52 euro cents and 52.27 pence.
It was the Australian dollar's highest open to the local session since August 26, 2008, when it started at 86.28 US cents.
During offshore trade, the local unit moved between 85.44 and 86.58 US cents.
"I don't think it was any one thing. The US dollar was weak across the board," said Tim Kelleher, vice president of institutional banking and markets at Commonwealth Bank.
"The Aussie has had such a big move its brought the US dollar index lower.
"Gold was up overnight which added to Aussie bullishness and oil did very well as well."
As a commodity or risk sensitive currency, the Australian dollar rises and falls with the price of resources like gold and oil.
The price of gold rose above $US1000 an ounce here yesterday, reaching the highest level for 18 months, as a weaker US dollar fuelled demand for the metal, dealers said.
Gold hit $US1007.70 an ounce on the London Bullion Market, the highest level since March 2008 when the metal had hit a record high of $US1032.70.
Gold last broke through $1000 in February before falling back.
Meanwhile, Crude prices settled above $US71 a barrel at the end of Tuesday's offshore trade.
Benchmark crude for October delivery gained $US3.08 to settle at $US71.10 a barrel on the New York Mercantile Exchange.
Mr Kelleher said investors were also spooked following calls for a new global currency by the UN Conference on Trade and Development (UNCTAD).
The report, carried in Monday's on-line edition Britain's Telegraph newspaper, centred on changing the currency and capital rules that bind the world economy.
The article said the report called for the current system, under which the US dollar acts as the world's reserve currency, to be subject to wholesale reconsideration.
In economic news today, the Australian Bureau of Statistics housing finance data for July and ABS retail trade data for July is due out.
The Westpac/Melbourne Institute Survey of Consumer Sentiment is also due to be released.
During the domestic session, Mr Kelleher said the unit would range trade around 86.3 US cents.
