Daily Market News 22 December


International Exchange Company (Pvt) Ltd. Your Money Matters Daily Market News Friday, 22 December 2023

SBP’s reserves drop to $6.904bn, but outlook improves on IMF loan The foreign exchange reserves held by the central bank fell by $136 million to $6.904 billion in the week ending Dec. 15, the State Bank of Pakistan (SBP) said on Thursday, as it paid off some of its external debt. Dr Shamshad launches Export-Import Bank of Pakistan ISLAMABAD-Caretaker Minister for Finance Dr Shamshad Akhtar on Thursday inaugurated Export-Import Bank of Pakistan aimed at strengthening external trade, attracting investments, and fostering broader economic growth in the country.

Govt borrows record Rs397bn in bond sale as rate cut looms 03 The government raised a record Rs397 billion in a local currency bond auction on Wednesday, the largest amount it borrowed in a single auction in years, as investors bet on an interest rate cut in early 2024.

IT exports hit 12-month high in November on easing of forex rules 04 Pakistan’s information technology (IT) exports rose by nine percent month-on-month to $259 million in November 2023, the highest level in the past 12 months, a brokerage house reported on Thursday. Oil prices slip as Angola decides to exit OPEC 05 NEW YORK, Dec 21 (Reuters) – Oil prices settled lower on Thursday after Angola said it would exit the Organization of the Petroleum Exporting Countries (OPEC), raising questions about the producer group’s efforts to support prices by limiting global supplies.

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