Dollar hits new 15-year low versus yen

Money dealers trade under an electric foreign exchange quotation board at a Tokyo foreign exchange market on October 25, 2010. – AFP Photo

TOKYO: The dollar hit a fresh 15-year low of 80.66 yen in Tokyo trading hours Monday as the greenback resumed its slide, amid continued expectations of more easing measures in the United States.

Investors resumed selling the greenback after G20 economies agreed to avoid tit-for-tat currency devaluations but did not set specific targets at a two-day meeting, dealers said.

Foreigners buy equity worth $10 million

KARACHI: Opening the books after the holiday season, foreign fund managers swooped on the Pakistan equities, lapping up $10 million worth of blue chips.
 
Net inflow after the buy at $10m and sell amounting to $3m stood at $7 million for Tuesday. That propelled KSE-100 index by a massive 220 points.

Remittances grow by 29pc in July-Nov

KARACHI: Despite 29 per cent growth recorded in remittances sent by overseas Pakistanis during the first five months (July-Nov) of the current fiscal year against the same period last year, the inflows declined comparatively in the month of November this year.

In October, the State Bank reported a 62 per cent increase in remittances against the same month of the previous year.

During the five months (July-Nov), remittances touched the figure of $3.832 billion, showing an increase of $866 million or 29.2 per cent over the same period last year.