Tag: FOREX

January 24, 2022: Indus River System Authority (IRSA) Monday released 45,186 cusecs water from various rim stations with inflow of 69,842 cusecs.

According to the data released by IRSA, water level in the Indus River at Tarbela Dam was 1,448.03 feet, which was 56.03 feet higher than its dead level 1,392 feet.

Water inflow and outflow in the dam was recorded as14,600 and 5,000 cusecs respectively.

The water level in the Jhelum River at Mangla Dam was 1,137.80 feet, which was 87.08 feet higher than its dead level of 1,050 feet whereas the inflow and outflow of water was recorded 15,171 and 115 cusecs respectively.

The release of water at Kalabagh, Taunsa and Sukkur was recorded as 20,492 , 15,003 and 28,050 cusecs respectively. Similarly, from the Kabul River a total of 9,900 cusecs of water was released at Nowshera and 30,171 cusecs released from the Chenab River at Marala.

APP

January 24, 2022 (MLN): The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) in its meeting held on January 24, 2021, in Karachi has decided to keep the policy rate unchanged at 9.75 percent.

The decision was largely in line with market expectations where the majority of the market participants expected SBP to keep the policy rate unchanged. 

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January 24, 2022: Economic growth in the eurozone slowed sharply in January, a key survey showed Monday, as new coronavirus restrictions hit consumer spending, raising a new obstacle for the region's recovery.

The purchasing managers' index (PMI) from IHS Markit, showed a drop to 52.4 in January, after posting 53.3 points in December and hitting a high 59 points in August. A figure above 50 indicates growth.

AFP/APP

January 24, 2022 (MLN): Pakistani rupee (PKR) could not hold its ground in the interbank market for more than a day and offset its previous gain against the US dollar as the currency closed the trade at 176.49 per USD, depreciating by 25 paisa.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 51 paisa per USD showing an intraday high bid of 176.53 and an intraday low offer of 176.25.

From July’21 to date, the local unit has lost Rs18.94 against the USD. On the other hand, the rupee appreciated by 2 paisa in CY22, with the month-to-date (MTD) position showing an uptick of 0.01%, as per data compiled by Mettis Global.

Alternatively, the currency gained 12 paisa against the Pound Sterling as the day's closing quote stood at PKR 239.14 per GBP, while the previous session closed at PKR 239.26 per GBP.

On the other hand, PKR's value weakened by 23 paisa against EUR which closed at PKR 199.89 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 10.00/10.15 percent, whereas the 1-week rate was 9.85/9.95 percent.

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January 24, 2022 (MLN): The board of directors of Fauji Foods (FFL) has appointed Mr. Faisal Yaseen as Chief Financial Officer (CFO) of the company with effect from December 10, 2021.

He has been hired in place of Mr. Ebad Khalid who has resigned w.e.f December 09, 2021.

To recall,  Mr. Khalid had assumed the charge as Chief Executive Officer (CEO) of the company with effect from December 09, 2021, in place of Mr.  Muhammad Haseeb Aslam.

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