CURRENCY SWAP

S.KAMAL HAYDER KAZMI,
(feedback@pgeconomist.com)
Research Analyst
, PAGE
Feb 27 - Mar 4, 2012

EXCHANGE RATES DURING 2011 (MONTH ENDED)

CURRENCY JAN FEB MAR APR MAY JUN JUL AUG SEP OCT
DOLLAR Buying 85.75 85.3 85.2 84.2 85.9 85.8 86.15 86.55 88 86.7
Selling 85.95 85.5 85.55 84.55 86.3 86.1 86.45 86.85 88.4 87.2
POUND Buying 136.48 137.74 136.4 138.6 139.5 137.5 140.1 141.6 138.5 138.7
Selling 136.8 138.07 137.9 139.8 141.5 138.8 141.7 143 140 140.6
EURO Buying 117.52 117.88 120 122.4 121.2 122 123 124.5 120.5 120.5
Selling 117.79 118.16 121.3 123.8 122.2 123.3 124.5 126 122.3 122.3
CANADIAN $ Buying 86.22 86.88 86.85 88 87.3 87.7 90 87.1 86.5 86.2
Selling 86.42 87.08 87.85 89 88.3 88.7 91 88.1 88.5 89
JAP YEN Buying 1.0439 1.0418 1.038 1.023 1.037 1.057 1.104 1.117 1.147 1.13
Selling 1.0463 1.0443 1.048 1.033 1.047 1.067 1.114 1.127 1.16 1.145
HK $ Buying 11.01 10.95 10.5 10.8 10.8 10.85 10.85 10.8 11.1 11.2
Selling 11.04 10.97 11 11.2 11.15 11.35 11 10.9 11.2 11.7
SINGAPORE $ Buying 67.04 66.85 67.1 67.85 68.5 69 71 71.4 68 68.2
Selling 67.2 67 68.1 68.85 69.5 70 72 72.4 69.5 69.2
MALAYSIAN RINGGIT Buying 28.1 27.96 28.2 28 27.9 28.1 28.3 28.2 28.6 28.3
Selling 28.17 28.02 28.8 28.4 67.9 28.6 29 28.9 29.1 29.7
UAE DIRHAM Buying 23.35 23.22 23.2 22.88 23.35 23.28 23.38 23.48 24.1 23.45
Selling 23.4 23.28 23.4 23.08 23.6 23.48 23.58 23.7 24.3 23.75
SAUDI RIYAL Buying 22.87 22.74 22.65 22.37 22.85 22.78 22.88 22.87 23.6 23.1
Selling 22.92 22.8 22.85 22.57 23.1 22.98 23.08 23.15 23.8 23.4
KUWAITI DINAR Buying 306.74 306.05 302 300 300.9 306 307 306.9 308.2 310.2
Selling 307.46 306.77 303.5 302.5 303.4 308 308.5 308.4 309.5 312.2

BALANCE OF TRADE (million US $)

MONTHS EXPORTS (BOP) IMPORTS (BOP)

BALANCE OF TRADE

VALUE CUMULATIVE GROWTH RATE VALUE CUMULATIVE GROWTH RATE
Jul-11 R 2,133 2,133 -19.8 3,160 3,160 -10.0 -1,027
Aug-11 R 2,124 4,257 -0.4 3,625 6,785 14.7 -1,501
Sep-11 R 1,885 6,142 -11.3 3,515 10,300 -3.0 -1,630
Oct-11 R 2,007 8,149 6.5 3,204 13,504 -8.8 -1,198
Nov-11 P 1,918 10,067 -4.4 3,157 16,661 -1.5 -1,239
Dec-11 R 2,058 12,125 7.3 3,229 19,890 2.3 -1,171
Jan-12 P 1,975 14,100 -4.0 3,267 23,157 1.2 -1,291

LIQUID FX RESERVES DURING 2010-11 (million US $)

Net reserves with SBP 14,783.6
Net reserves with banks 3,460.2
Total liquid FX reserves 18,243.8

PERIOD AVERAGE AND YOY % CHANGES OF INDICES (Base 2007-08)

INDEX

AVERAGES JULY-NOVEMBER % CHANGES NOVEMBER OVER NOVEMBER % CHANGES
2011-12 2010-11 2009-10 2011-12 2010-11 2009-10
CPI 11.10 14.09 8.65 10.19 14.96 9.31
SPI 8.36 18.03 8.85 3.77 22.45 10.21
WPI 16.58 18.84 7.71 11.96 20.34 13.83

US $ RATES  PER PAK RUPEE

YEARS LEADARS US $
1972 Z.A. Bhutto Rs 4.7
1977 Z.A. Bhutto Rs 9.9
1983 Gen Ziaulhaq Rs 13.1
1987 Gen Ziaulhaq Rs 17.7
1990 Benazir Bhutto Rs 24
1991 Nawaz Sharif Rs 25
1994 Benazir Bhutto Rs 30.6
1996 Benazir Bhutto Rs 40.3
1997-99 Nawaz Sharif Rs 53
1999-08 Pervaiz Musharraf Rs 62
2008 to date Yousaf Raza Gilani Rs 90.45

FBR TAX COLLECTION (Rs. MN)

MONTHS TOTAL DIRECT TOTAL INDIRECT TAXES TAX COLLECTION
April-11 49,635 80,051 129,686
May-11 46,995 112,628 159,623
June-11 124,204 124,352 248,556
July-11 28,966 83,309 112,275
Aug-11 32,069 88,437 120,506
Sep-11 63,507 84,516 148,023
Oct-11 39,659 86,749 126,408
Nov-11 45,421 86,428 131,849
Dec-11 102,945 98,731 201,676

NON-PERFORMING LOANS (Rs in million)

BANKS/ DFIs AS ON 30.06.2011 AS ON 30.09.2011
NPLS NET NPLS NET NPLS TO NET LOAN (%) NPLS NET NPLS NET NPLS TO NET LOAN (%)
All Banks & DFIs 591,226 188,113 5.48 629,555 215,977 6.53
All Banks 575,848 182,622 5.40 613,219 209,632 6.42
All Commercial Banks 542,176 169,875 5.16 577,778 196,020 6.18
Public Sector Banks 166,915 77,067 11.21 193,214 102,044 15.10
Local Private Banks 368,561 92,054 3.63 377,334 93,154 3.83
Foreign Banks 6,701 754 1.10 7,230 822 1.26
Specialized Banks 33,671 12,748 13.74 35,441 13,612 14.68
DFIs 15,378 5,491 11.59 16,336 6,344 13.49
Note: (Domestic and Overseas Operations)

INTEREST RATES IN PAKISTAN

DATE RATES (%)
30-Jan-10 12.5
27-Mar-10 12.5
24-May-10 12.5
2-Aug-10 13.00
30-Sep-10 13.5
30-Nov-10 14.00
1-Aug-11 13.5
9-Oct-11 to date 12.00

PAKISTAN: INTEREST RATE SPREAD (%)

YEARS AVERAGE YIELD ON EARNING ASSETS AVERAGE COST OF INTEREST LIABILITIES SPREAD
(a) (b) (a-b)
CY98 14.0 8.5 5.4
CY99 12.7 7.7 5.0
CY00 11.3 6.6 4.7
CY01 11.2 6.1 5.1
CY02 8.7 4.3 4.5
CY03 5.7 2.0 3.8
CY04 5.0 1.5 3.5
CY05 7.5 2.6 5.0
CY06 9.1 3.9 5.2

GDP GROWTH (%)

2006-07 2007-08 2008-09 2009-10 2010-11
6.8 3.7 1.7 3.8 2.4