EURO USD Forex Trading Tips and Analysis for Day Traders

The pair did make a move higher yesterday above a prior swing high, and just fell short of the 95.40.
95.40-95.50 is a major resistance area. A break above indicates a swing higher. 96.00 and 96.40 are the targets (not necessarily today).
Support is at 94.90, 94.60 and 94.30. A sustained break back below of 94.60 would indicate short-term weakness.
Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com

USD / JPY Technical Forex Analysis for Forex Traders

The pair did make a move higher yesterday above a prior swing high, and just fell short of the 95.40.
95.40-95.50 is a major resistance area. A break above indicates a swing higher. 96.00 and 96.40 are the targets (not necessarily today).
Support is at 94.90, 94.60 and 94.30. A sustained break back below of 94.60 would indicate short-term weakness.
Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com

Crude Cruise Towards our 3rd Tier Uptrend Line

Crude futures had no problem participating in yesterday’s strong rally in U. S. equities. Crude finally left the psychological $65/bbl level behind on climbing volume, stepping over our 2nd tier downtrend line in the process. The futures are presently walking along our 3rd tier uptrend line as they creep back into the June trading range while setting its sights on the psychological $70/bbl level. Crude futures may have a little more gas in the tank even though the S&P futures are waning after negative earnings from AMZN, AXP, and MSFT.

S&P Sits Near Par After Surge

The S&P futures made the confirmation we were looking for on Thursday, propelling from our 2nd tier uptrend line well beyond the psychological 950 level. The futures are leveling off today as investors take some profits amid disappointing earnings from the likes of MSFT, AXP, and AMZN. The markets have also received some disconcerting results from WFC and MS this, week along with fast food giant MCD.

Gold Sticks Above $950/oz

Gold failed to participate in the S&P’s surge yesterday, opting to sink towards our 2nd tier uptrend line on climbing volume. Thursday’s movement in gold shows us the precious metal is more positively correlated with the Dollar than U. S. equities, aiding investors in further correlative deviations between the greenback and equities.

S&P Sits Near Par After Surge

The S&P futures made the confirmation we were looking for on Thursday, propelling from our 2nd tier uptrend line well beyond the psychological 950 level. The futures are leveling off today as investors take some profits amid disappointing earnings from the likes of MSFT, AXP, and AMZN. The markets have also received some disconcerting results from WFC and MS this, week along with fast food giant MCD.

USD/JPY Jogs between our Trend Lines While Playing with 95

Japan’s trade balance came in below analyst expectations late Wednesday, yet surging U. S. equities trumped the disappointing data point as we anticipated. A recovery in U. S. corporate performance implies greater demand for Japanese exports in the future, weakening the Yen and improving prospects of a global economic recovery. Even though Japan’s trade balance was shy of expectations, we’re pretty encouraged by the swift recovery over the past two releases from recession lows. The data reveals export prospects are picking up as stimulus packages ultimately prop up demand for Japanese exports. Employment markets in the developed economies are improving along with consumption, bringing life back to the Japanese manufacturing sector.

Rupee trades lower compared to US dollar

The reports of heavy purchase of foreign currency by importers declined Indian Rupee for the first time in four days. The import oriented firms generally make payments in foreign currency to settle month-end payments, thus pushing dollar rates at the month's end.
India pays a huge sum as oil import bill and thus refiners are the largest buyers of US dollars for import bill payouts.
Ravindra Babu, a Mumbai-based foreign-exchange trader with Andhra Bank, said, "With importers' dollar demand strengthening ahead of the month's end, the rupee is expected to keep a weakening bias."

EUR/USD Hits a Wall after Disappointing EZ INO Data

The EUR/USD has hit a wall and is consolidating with a downward slope after the Euro Zone’s industrial new orders data showed slight contraction while analysts were expecting a swing to growth (-0.2% vs. 1.9%). The Euro is also digesting the fact that French consumer spending came in higher than expected. However, we believe the EZ INO number is more prevalent since we’ve seen French CS flutter between growth and contraction. Hence, the EU continues to display a theme of disappointing data. Over the past week and a half investors have received discouraging data concerning EU economic sentiment, pricing, and now manufacturing. The economic data shows that although the peak of the crisis may be behind us, the economic return to growth could be a long, steep road.

S&P Futures Stare Down 2009 Highs and 950

The S&P futures are on the cusp of a large near-term breakout should they decide to topple our 2nd tier uptrend line, the psychological 950 level, and 2009 highs. However, the futures are shedding earlier gains in consolidation amid psychological hesitation. Regardless, the S&P’s correlations are taking the lead with gold and the EUR/USD busting out from our previous downtrend lines on aggressive movements to the upside. Meanwhile, the 30 Year T-Bond futures continue their slide lower from their near-term uptrend line. Hence, it appears investors are gaining more confidence in the economic recovery, willing to put more money into higher-risk investment vehicles.

Orexigen Obesity Drug Trials Successful in 3 Studies

Orexigen Therapeutics Inc. said Monday that in three large late-stage studies its obesity-drug candidate Contrave met its main goals and also surpassed a Food and Drug Administration requirement for effectiveness. The San Diego-based company said it plans to seek FDA approval for Contrave in early 2010.

EMCO sells its arm to GMR Energy

Thane-headquartered EMCO Limited has informed that it has sold its wholly owned subsidiary EMCO Energy Limited to GMR Energy Limited, which is a wholly owned subsidiary of GMR Infrastructure Limited.

At present, EMCO Energy is in the process of implementing 300 MW thermal power project (Phase 1) at Warora, Maharashtra, as part of the Group's power generation strategy.

CRISIL Risk and Infrastructure Solutions Limited acted as advisors to EMCO Limited for this transaction.

The share of EMCO closed on Friday at Rs 86, while scrip of GMR Infrastructure settled the day at Rs 141 on BSE.

US Dollar on the Brink of a Trend Defining Plunge Ahead of 2Q GDP

Written by John Kicklighter, Currency Strategist
It was a tenuous week; but the dollar was able to ultimately hold its own through the close. However, just because momentum behind the earnings-driven rally in risk appetite has stalled does not mean that the world’s most liquid currency has avoided a collapse all together.




US Dollar on the Brink of a Trend Defining Plunge Ahead of 2Q GDP

Fundamental Outlook for US Dollar: Bearish

- Fundamentals support a recovery in US and global growth, but how does risk appetite factor in?
- Bernanke sees signs of stabilization, calls focus on the deficit
- Do technicals call for a dollar collapse or recovery?

It was a tenuous week; but the dollar was able to ultimately hold its own through the close. However, just because momentum behind the earnings-driven rally in risk appetite has stalled does not mean that the world’s most liquid currency has avoided a collapse all together. Sentiment winds have died down; but they can easily jostle the safe-haven dollar should another economic catalyst surface. This makes for an uncertain future when combined with the fundamental influence that the 2Q GDP report will have on the currency. Now, not only do traders have to interpret the data, they will also have to judge whether it has a greater impact on risk appetite or growth considerations for the beleaguered dollar.

Looking ahead to next week, the most immediate threat to the greenback’s stability is the intensity and direction of risk appetite. While this currency is deeply mired in speculation surrounding the economy’s leading or lagging growth potential, interest rate expectations, and deficit projections among other influences; risk appetite has proven itself to be insuperable. With the Federal Reserve vowing to keep the benchmark lending rate at levels that insure a carry status when conditions do turn around and politicians ensuring the economy will struggle with record levels of debt for years to come, there seems little doubt that the dollar will maintain its position on the opposite of risk appetite. But, considering the stalled progress most of the dollar and yen crosses saw last week; is there a strong shift in sentiment in the works? With EURUSD and GBPUSD just off of key levels of resistance, the pressure is growing. However, the primary source of momentum this past week – the second quarter earnings season – is already on the decline. If left up to the markets alone, equities have already forged new highs for the year; but commodities, fixed income and risk-sensitive currency pairs have not pushed to comparable levels. Oddly enough, one of the most likely catalysts for risk going forward also happens to be the most attention grabbing indicator on the US docket: GDP.

According to economists forecasts, the world’s largest economy contracted at a 1.5 percent on an annualized pace through the second quarter. This would be a marked improvement from the 5.5 percent and 6.3 percent rate of the recession through the first quarter of 2009 and fourth quarter 2008 respectively. This would certainly confirm policy officials expectations for a return to positive growth by the end of this year or beginning of the next; but through the near-term it is still a call for speculation to rank the economy’s performance against that of its major counterparts. China recently reported a sharp advance to a 7.9 percent pace of expansion while the UK printed a record 5.6 percent contraction. And, then there are still those economies that have yet to report their numbers. Japan suffered a record-breaking 14.2 percent slump through the first quarter, but is expected to snap back according to BoJ and Cabinet officials. The Euro Zone awaits it August 13th release, but the Bundesbank has already stated Germany saw only a ‘slight contraction’ through the second quarter. This will increasingly become a consideration of nuance.

The other facet of the US 2Q GDP release is that it will be accepted as a gauge of global growth. This further complicates the issue. Should the reading be good, the influence on risk appetite could outweigh the implications for US returns and actually drag the dollar down; and vice versa. Another important consideration is the timing of this release. Due Friday, speculators may decide to move the dollar before the data crosses the wires. If this is the case, the GDP report could factor into long-term projections but not short-term volatility. –JK

For more timely FX market analysis, visit our newly-launched Forex Stream Service.

The EUR/USD has hit a wall and is consolidating with a downward slope after the Euro Zone’s industrial new orders data showed slight contraction while

The EUR/USD has hit a wall and is consolidating with a downward slope after the Euro Zone’s industrial new orders data showed slight contraction while analysts were expecting a swing to growth (-0.2% vs. 1.9%). The Euro is also digesting the fact that French consumer spending came in higher than expected. However, we believe the EZ INO number is more prevalent since we’ve seen French CS flutter between growth and contraction. Hence, the EU continues to display a theme of disappointing data. Over the past week and a half investors have received discouraging data concerning EU economic sentiment, pricing, and now manufacturing. The economic data shows that although the peak of the crisis may be behind us, the economic return to growth could be a long, steep road.

EUR/USD Hits a Wall after Disappointing EZ INO Data

The EUR/USD has hit a wall and is consolidating with a downward slope after the Euro Zone’s industrial new orders data showed slight contraction while analysts were expecting a swing to growth (-0.2% vs. 1.9%). The Euro is also digesting the fact that French consumer spending came in higher than expected. However, we believe the EZ INO number is more prevalent since we’ve seen French CS flutter between growth and contraction. Hence, the EU continues to display a theme of disappointing data. Over the past week and a half investors have received discouraging data concerning EU economic sentiment, pricing, and now manufacturing. The economic data shows that although the peak of the crisis may be behind us, the economic return to growth could be a long, steep road.

S&P Futures Stare Down 2009 Highs and 950

The S&P futures are on the cusp of a large near-term breakout should they decide to topple our 2nd tier uptrend line, the psychological 950 level, and 2009 highs. However, the futures are shedding earlier gains in consolidation amid psychological hesitation. Regardless, the S&P’s correlations are taking the lead with gold and the EUR/USD busting out from our previous downtrend lines on aggressive movements to the upside. Meanwhile, the 30 Year T-Bond futures continue their slide lower from their near-term uptrend line. Hence, it appears investors are gaining more confidence in the economic recovery, willing to put more money into higher-risk investment vehicles.

Short-term Technical Analysis

Cross Spot level Previous day move (in pips) Supp. Res. Daily target

USD/CHF 1.0729 0.0080 1.0715 1.0780
Daily chart 1.0655 1.0800
Short-term chart 1.0620 1.0860
Comments
As expected, yesterday proved to be a day of range trading on the dollar. The USD/CHF edged up to 1.0769 before US figures were published and then dipped back down to its support zone at 1.0634. Market activity is likely to be stable as we head into the weekend. We remain neutral on the pair and expect to be trading in a range between 1.0600 and 1.0750.

EUR/USD 1.4175 -0.0061 1.4115 1.4215
Daily chart 1.4095 1.4265
Short-term chart 1.4050 1.4290
Comments
Yesterday’s trading saw the EUR/USD seesaw between a low of 1.4120 and a high of 1.4292. The publication today of Germany’s IFO business climate index and of a revised Michigan Sentiment reading in the US is unlikely to disrupt the summer tranquillity on the markets. We will be continuing to play a range between 1.4100 and 1.4250 on the EUR/USD.

USD/JPY 94.81 0.63 94.55 95.40
Daily chart 94.10 95.70
Short-term chart 93.90 95.85
Comments
The EUR/CHF cross rose back above the 1.5200 mark yesterday, on the back of significant acquisitions by Swiss companies. Volatility was considerably higher during the session, with the trading range between a low at 1.5160 and a high at 1.5244. We are expecting to close this week in a range between 1.5175 and 1.5225. We are awaiting publication this morning of the German IFO index.

EUR/CHF 1.5208 0.0045 1.5180 1.5255
Daily chart 1.5150 1.5280
Short-term chart 1.5135 1.5325
Comments
Boosted by the uptick on equity markets, a weakened dollar and strong retail sales growth in the UK, sterling continued its advance against the greenback, breaking past the 1.6500 barrier to reach a high of 1.6585. The top of our range is still 1.6600, and another positive day for equity markets should take us there. Today sees publication of the University of Michigan consumer confidence reading for July.

GBP/USD 1.6502 0.0022 1.6455 1.6535
Daily chart 1.6430 1.6560
Short-term chart 1.6390 1.6605
Comments
Boosted by the uptick on equity markets, a weakened dollar and strong retail sales growth in the UK, sterling continued its advance against the greenback, breaking past the 1.6500 barrier to reach a high of 1.6585. The top of our range is still 1.6600, and another positive day for equity markets should take us there. Today sees publication of the University of Michigan consumer confidence reading for July.

UK Retail

UK retail sales were up 1.2% between May and June and by 2.9% from one year before.

The latest US unemployment figures were stable, with first-time jobless claims up 554,000 from the previous week (compared to consensus forecasts of a 550,000 increase). The four-week average of new claims for unemployment benefits declined to 566,000 last week, its lowest level since January.

Also in the US, sales of previously owned homes rose by 3.6% in June to an annual rate of 4.89 million units. This notwithstanding, house prices were down 15.4% from one year before

Market news

Forex Update for July 13 2009 - The top video clips of the week are here

Forex reserves fall to $11.844 billion

KARACHI: The country's foreign exchange reserves declined to $11.844 billion on the week ending on July 18, 2009 as compared with $12.239 billion last week, data released by the State Bank of Pakistan showed on Thursday.

Total reserves showed a decrease of $395 million during the week. However, the State Bank's reserves witnessed a major decline of $433 million to $8.428 billion, as compared to $8.861 billion last week.

The reserves held by the banks (other than SBP) witnessed an increase of $38 million to reach $3.416 billion, as compared to $3.378 billion last week. Foreign reserves had hit a record high of $16.5 billion in October 2007 but fell steadily to $6.6 billion by November of last year, largely because of a soaring import bill.

Pakistan agreed in November to an International Monetary Fund (IMF) emergency loan package of $7.6 billion to avert a balance of payments crisis and shore up reserves. The fund recently reviewed the country's performance under the deal, and its board is set to meet next month to decide on a third loan tranche of roughly $875 million. The country has also requested about $4 billion in additional financing from the IMF as ‘insurance’ against the economic crisis. staff report

EUR/USD Hits a Wall after Disappointing EZ INO Data

The EUR/USD has hit a wall and is consolidating with a downward slope after the Euro Zone’s industrial new orders data showed slight contraction while analysts were expecting a swing to growth (-0.2% vs. 1.9%). The Euro is also digesting the fact that French consumer spending came in higher than expected. However, we believe the EZ INO number is more prevalent since we’ve seen French CS flutter between growth and contraction. Hence, the EU continues to display a theme of disappointing data. Over the past week and a half investors have received discouraging data concerning EU economic sentiment, pricing, and now manufacturing. The economic data shows that although the peak of the crisis may be behind us, the economic return to growth could be a long, steep road.

»

• Add new comment
• Read more

EUR/USD Hits a Wall after Disappointing EZ INO Data

The S&P futures are on the cusp of a large near-term breakout should they decide to topple our 2nd tier uptrend line, the psychological 950 level, and 2009 highs. However, the futures are shedding earlier gains in consolidation amid psychological hesitation. Regardless, the S&P’s correlations are taking the lead with gold and the EUR/USD busting out from our previous downtrend lines on aggressive movements to the upside. Meanwhile, the 30 Year T-Bond futures continue their slide lower from their near-term uptrend line. Hence, it appears investors are gaining more confidence in the economic recovery, willing to put more money into higher-risk investment vehicles.

Forex Update S&P Futures Stare Down 2009 Highs and 95

The S&P futures are on the cusp of a large near-term breakout should they decide to topple our 2nd tier uptrend line, the psychological 950 level, and 2009 highs. However, the futures are shedding earlier gains in consolidation amid psychological hesitation. Regardless, the S&P’s correlations are taking the lead with gold and the EUR/USD busting out from our previous downtrend lines on aggressive movements to the upside. Meanwhile, the 30 Year T-Bond futures continue their slide lower from their near-term uptrend line. Hence, it appears investors are gaining more confidence in the economic recovery, willing to put more money into higher-risk investment vehicles.

USD / JPY Technical Forex Analysis for Forex Traders

USD/JPY The pair has retreated back into the middle of a range which has developed over the last week.
Minor support is at 93.75 followed by 93.50. A drop below this would shift the bias downwards. 93.20 is the support level beyond.
Minor resistance is likely at 94.20. 94.60 and 94.80 are more significant.
Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check forexpros. com

Energy Advisor presents POL price formula

ISLAMABAD: Advisor to Prime Minister for Energy Dr. Asim Hussain said Sunday that Pakistan import bill will decrease by $5 million daily as a result of Iran-Pakistan gas pipeline project. Addressing a news conference, he said the gas pipeline project can save Pakistan $1.70 billion in annual import bill. On the occasion, Dr Asim made public the formula for determination of price of petroleum products, adding the formula is aimed at conveying in transparent manner to the people the modus operandi of price specification. He said the petrol ex-refinery price is Rs36.59/lit. He said if the current trend of international crude oil prices continues then there is a good chance of local POL prices to be reduced by Rs 3 to Rs 3.50 per litre.

GST to be converted into VAT by July 2010: FBR

LAHORE: Chairman Federal Board of Revenue (FBR0 Suhail Ahmed has said that General Sales Tax (GST) will be converted into Value Added Tax (VAT) by July 1, 2010 with a view to bring more sectors in the tax net. He said this while talking to reporters on the occasion of his visit to Directorate of Income Tax in Lahore on Monday. Chairman FBR said the implementation of VAT will result in the additional revenue of Rs400 billion. He said the tax collection target for the current financial year is Rs380 billion and expressed confidence that it will be achieved despite economic crisis being faced by the country.

Oil companies to set up 200 ethanol pumps by 2010

ISLAMABAD: Oil Marketing Companies will establish 200 ethanol petrol pumps across the country by 2010 at a cost Rs4 billion. According to oil OMCs� sources, Pakistan State Oil (PSO) has practically initiated the work in this regard. PSO will set up 30 E-10 filling stations in various cities of the country. The company has started selling from one of its petrol pumps E-10 fuel which is Rs2.40 per litre cheaper than the regular fuel. In order to promote the new brand of fuel, the government has already exempted the E-10 fuel from sales tax.

British economy to shrink 4.5% in current year

LONDON: The British economy is expected to record the biggest single year contraction since 1945, the Ernst Young ITEM Club said Monday. In its latest economic outlook, the think tank is forecasting the economy to shrink 4.4% in 2009, worse than the 3.5% decline predicted in April. The group sees recovery in 2010 with a 0.5% growth. According to the ITEM Club, hopes of recovery are running ahead of reality and sees no sustainable improvement until world trade begins to pick up. The main risks remain on the downside and include the threat posed by the H1N1 swine flue virus, which could reduce a further 3% from GDP this year and 1.7% in 2010. Companies should review their plans for this kind of contingency. New home-working and video-conferencing facilities offer a way to cope with this, while retail and industrial units should check their stock levels and supply chains. Peter Spencer, chief economic adviser to the Ernst Young ITEM Club said, "Economic patient has been in trauma, but thanks to the paramedics at the Treasury and the Bank of England who pumped billions of pounds worth of medicine into the economy, the patient has been stabilized for now." But he said, "it remains unclear how quick and complete recovery will be and there is still a serious chance of a relapse." The short term outlook stays gloomy as credit remains constrained and the lack of competition in the banking sector indicates lending to consumers and corporates would continue to be expensive and restricted with no further stimulus available to work through the system. Further, the think tank forecasts no change in the 0.5% interest rate well into next year, with the significant degree of spare capacity that exists ensuring that policy would need to be tightened only very gradually after that. Company cut-backs in employment and earnings continued to put pressure on consumer recession. But, rise in unemployment was not bad as was originally feared. Still, the think tank expects unemployment around 8.8% of the labor force by next spring. Disposable incomes were under severe pressure and consumer spending would possibly weaken again over the second half of this year. Hampered by a weak housing market, consumer spending will shrink 3.2% in 2009 and a further 0.2% next year. Meanwhile, disposable income is set to rise only 1% in 2009 and again in 2010. The report said business investment would fall by 10.5% this year with an additional decline of 1% in 2010. At the same time, private housing investment would plunge 27% in 2009.

Oil prices up in Asian markets

SINGAPORE: Oil prices rose in Asian trade today, lifted by positive US housing construction data that suggested the crisis-hit housing market was over the worst, analysts said. New Yorks main futures contract, light sweet crude for delivery in August, gained 21 cents to USD 63.77 a barrel. Brent North Sea crude for September delivery climbed 27 cents to USD 65.65. Data released Friday by the US Commerce Department showed construction starts on privately owned homes rose 3.6 per cent in June to a seasonally adjusted rate of 582,000, the fastest pace since November. The jump in housing starts was much stronger than the 530,000 pace expected by most analysts and followed a revised 562,000 starts in May, up 30,000 from the initial estimate. "Oil prices drew support from the US housing starts data," the Commonwealth Bank of Australia said in a report.

Pakistan Open Market Forex Rate

Currency	Symbol	Buying	Selling	Charts
Australian Dollar	AUD	65.45	66.6
Bahrain Dinar	BHD	216.1	219
Canadian Dollar	CAD	73.4	74.6
China Yuan	CNY	12	13.5
Danish Krone	DKK	15.4	15.8
Euro	EUR	115.2	117.2
Hong Kong Dollar	HKD	10.48	10.68
Indian Rupee	INR	1.7	1.8
Japanese Yen	JPY	0.86	0.87
Kuwaiti Dinar	KWD	281.6	284
Malaysian Ringgit	MYR	23	24.5
NewZealand $	NZD	52.6	53.6
Norwegians Krone	NOK	12.7	13
Omani Riyal	OMR	211.75	214
Qatari Riyal	QAR	22.4	22.6
Saudi Riyal	SAR	21.7	21.9
Singapore Dollar	SGD	56.15	57.35
Swedish Korona	SEK	10.4	10.8
Swiss Franc	CHF	75.8	76.8
Thai Bhat	THB	2.2	2.4
U.A.E Dirham	AED	22.23	22.5
UK Pound Sterling	GBP	133.2	135.2
US Dollar	USD	82.2	82.6

CHANDA MONEY CHANGERS

Head Office
Address:	1-A,G.Floor,Hari Odhani St.,Opp.Nigar Cinema,Pan Mandi karachi, Sindh 74000
Telephone:	(92 21) 2729626 (92 21) 2726986
Fax:	(92 21) 2726983

CHANDA E.C (B) PVT. LTD

Head Office
Address:	5-6,Ground Fl.,New Ruby Centre,Boulton Market,M.A.Jinnah Road karachi, Sindh 74000
Telephone:	(92 21) 2471667 (92 21) 2471666

Chanda & Co

Head Office
Address:	No. 1-A. G/Flr. Farida Chand Mzl Godhra Gali Nigar Cinema karachi, Sindh 74000
Telephone:	+92-21-2774417

CASH CORNER CURRENCY EXCHANGE

Head Office
Address:	Shop No.25,Mall Plaza rawalpindi,
Telephone:	(92 51) 5523339 (92-51) 5513850

CASH CORNER CURRENCY EXCHANGE

Head Office
Address:	Showroom No.13 Amber Tower Blk-6 PECHS karachi, Sindh 74000
Telephone:	+92-21-4324078

CASH CORNER CURRENCY EXCHANGE

Head Office
Address:	Shop No.25,Mall Plaza rawalpindi,
Telephone:	(92 51) 5523339 (92-51) 5513850

Big Board Advisory Service

Head Office
Address:	M-9/10 AL-KAMRAN CNTR 2ND MEZ FLR P/NO 7-A BLK 6 PECHS karachi, Sindh 74000
Telephone:	+92-21-4380831

Bank of Punjab

Head Office
Address:	Business & Finance Centre I.I.Chundrigar Rd. karachi, Sindh 74000
Telephone:	+92-21-2412113 +92-42-9200421
Branch Office
Address:	Business & Finance Centre I.I.Chundrigar Rd. karachi, Sindh 74000
Telephone:	+92-21-2412113 2412114 2412115 2412116 PABX: +92-21-2401870 2401871 2401872 2401873 UAN: +92-21-111200100
Fax:	+92-21-2472991
Branch Office
Address:	INTERNATIONAL DIVISION:Business & Finance Centre I.I.Chundrigar Rd. karachi, Sindh 74000
Telephone:	+92-21-2415865 UAN: +92-21-111200100 PABX: +92-21-2401870 2401871 2401872 2401873
Fax:	+92-21-2415862
Branch Office
Address:	1st Floor, Marine Faisal Bldg. Nr. Hotel Faran. karachi, Sindh 74000
Telephone:	Phone: +92-21-4545222 4545262 PABX: +92-21-4542066 4542077 4542088
Fax:	+92-21-4542044
Branch Office
Address:	I.I.CHUNDRIGAR ROAD: Business & Finance Centre I.I.Chundrigar Rd. karachi, sindh 74000
Telephone:	+92-21-2415861 UAN +92-21-111200100 PABX +92-21-2401870 2401871 2401872 2401873
Fax:	+92-21-2415863
Branch Office
Address:	MALIR HALT BRANCH: Shmasi Cooperative Housing Society, Malir Halt. karachi, sindh 74000
Telephone:	+92-21-9248940 +92-21-9248942
Fax:	+92-21-9248941
Regional Office
Address:	REGIONAL OFFICE:Business & Finance Centre I.I.Chundrigar Rd. karachi, Sindh 74000
Telephone:	+92-21-2415864 2472945 UAN: +92-21-111200100 PABX: +92-21-2401870 2401871 2401872 2401873
Fax:	+92-21-2415862

Aylia Financial Service

Address:	Office# 4, Ground Floor, City Arcade, I-8 Markaz, Islamabad islamabad, punjab
Telephone:	+92-51-4862518

ASMA MONEY EXCHANGER'S

Head Office
Address:	Shop #2,Sadiq Plaza,69-The Mall lahore, punjab
Telephone:	(92 42) 6367737 (92 42) 6310442
Fax:	(92 42) 6365804

ALLIED GROUP OF BUSINESS

Head Office
Address:	Office# 105, Ist Floor, Dossul Arcade, Jinnah Avenue, Blue Area, Islamabad islamabad, punjab
Telephone:	+92-51-2277283

ALI INTERNATIONAL

Head Office
Address:	7-8,1st Floor,Ruby Centre,Opp:City Post Office,Talpur Rd,Boulton Market karachi, Sindh 74000
Telephone:	(92 21) 2426841 (92 21) 2422089
Fax:	(92 21) 2419583

ALI HAIDER MONEY EXCHANGE

Head Office
Address:	1,Ground Floor,Sadiq Plaza,Near Masjid-e-Shohda,The Mall lahore, punjab
Telephone:	(92 42) 6278885 (92 42) 6278847
Fax:	(92 42) 6362833

AL-RAHIM INTERNATIONAL

Head Office
Address:	3 Al-Rahim Towers,I.I. Chundrigar Road karachi, Sindh 74000
Telephone:	(92 21) 2440546 (92 21) 2440545
Fax:	(92 21) 2440549

AL-MUZHER MONEY CHANGER

Head Office
Address:	4-Montgomery Road lahore, punjab
Telephone:	(92 42) 6363631 (92 42) 6303378

AL-ABBAS ENTERPRISES

Head Office
Address:	Shop #14,Mall Plaza,Near GPO Cantt. rawalpindi,
Telephone:	(92 51) 5528383 (92-51) 5524505

AJMAIR INTERNATIONAL

Head Office
Address:	Shop #5,SNC Plaza,Blue Area,Behind Usmania Restaurant islamabad, punjab
Telephone:	(92 51) 2275179 (92-51) 2274424

AHMAD MONEY CHANGER

Head Office
Address:	B-1,Raheem Complex,Main Market,Gulberg-II Lahore, punjab
Telephone:	(92 42) 5713421 (92 42) 5713728

ABID CURRENCY

Head Office
Address:	Shop # 7,Time Center,Opp.Bilour Plaza,Saddar Peshawar, N.W.F.P
Telephone:	(92 91) 5270370
Fax:	(92 91) 5275923

AAKRA MONEY EXCHANGE

Head Office
Address:	Shop No.32-33,Aakra Centre,Near Jahangir Park,Saddar karachi, Sindh 74000
Telephone:	(92 21) 2231777 (92-21) 2231666
Fax:	(92 21) 2231999

AA EXCHANGE COMPANY (PVT) LTD

Head Office
Address:	Office# 1-2, Mezzanine Floor, Block 46, Madni Plaza, Jinnah Avenue, Blue Area, Islamabad islamabad, punjab
Telephone:	+92-51-2271700

A.R.K. EXCHANGE

Head Office
Address:	5-Amber Pride,Main Shahrah-e-Faisal karachi, Sindh 74000
Telephone:	(92 21) 4529942 (92-21) 4549750
Fax:	(92 21) 452994

A Khanani and Kalia Money Exchange

Company Details
Since a last decade, Khanani & Kalia International (Pvt) Ltd. has been known by its customers for its best quality services at the national level. But now Khanani & Kalia has come up with a broader horizon as it now intends to cater clients on the global level with enhanced range of services backed by sophisticated IT tools and software technology. KKI as in its past and will always strive to bring a much-deserved change with its revolutionary and competent services and marketing techniques that will play a major role in the business of Foreign Exchange catering to the customers on both national and international platforms.
Islamabad Office
Address:	Unit # 1, Chowdry Plaza, Blue Area, Opp. Nafdeck Cinema . Islamabad, Punjab 74400
Telephone:	+92-51-111-554-554
Fax:	+92-51-2274457

ZARCO EXCHANGE COMPANY (PVT) LTD.

Company Details
The ZARCO Exchange Company is a respected financial institution that provides dependable Exchange and Transfer services to satisfied customers throughout Pakistan. Our company has the country�s largest network of Online Branches, Franchises and Payout locations and is reputed for its ability to provide unparallel financial services including: Money Transfers Currency Exchange Bank Drafts Traveler Cheques Cash Passport Cash Cards Postal Notes and Coins The ZARCO Exchange Company (Pvt) Ltd. has its corporate head office at 32-A Lawrence road, Lahore Pakistan. All transactions and payments processed by ZARCO comply with the applicable regulations, in accordance with the international rules and codes of the applicable legal bodies. The Exchange is regulated under the Legal framework set out by the Central Bank of Pakistan and has been designated by SBP as the country�s premier �Role Model Company.� We are the first company to have a live OFAC Scanning mechanism. Our main objective is to provide customers with seamless, cost-effective service and the best financial services in Pakistan and beyond. Our efforts are strongly supported by the Government of Pakistan. ENCASHMENT CERTIFICATE AGAINST INWARD REMITTANCES ZARCO is authorized by the Central Bank of Pakistan wiz: State Bank of Pakistan, Karachi to issue Encashment Certificates as under: "Certificate of Encashment of Foreign Currency� is issued to the beneficiaries for the Remittances received from abroad and to be paid in Pak Rupees. Moreover, it is advised that there is no restriction from State Bank for issuance of �Certificate of Encashment of Foreign Currency� against these remittances. ZARCO Exchange is Licensed and Regulated by the State Bank of Pakistan under Exchange companies ordinance 2002. ZARCO Exchange is one of the leading company providing services worldwide in collaboration with renowned and trustful Money transfer companies.
Head Office
Address:	32-A Lawrence road, Lahore, Punjab
Telephone:	0800-12345, 0800-67890 +92-42 6301253, 6301977
Fax:	+92-42 6368796, 6362217
Branch Office
Address:	Shop # 2, Dossul Arcade Jinnah Avenue, Blue Area Islamabad, punjab
Telephone:	+92-51-2826570 +92-51-2870123 +92-51-2874523
Fax:	+92-51-2880299
Branch Office
Address:	CAVELARY GROUND BRANCH: 15-C Main Boulevard, Cavelary Ground Lahore Cantt. lahore, punjab
Telephone:	PABX +92-42-6671176
Fax:	+92-42-6683478
Branch Office
Address:	SADIQ PLAZA BRANCH: Sadiq Plaza Suit# 9/B Basement, The Mall lahore, punjab
Telephone:	+92-42-6280112
Branch Office
Address:	L.G.F 35, Century Tower, Kalma Chowk lahore, punjab
Telephone:	+92-42-5889435
Branch Office
Address:	Main Bazar, Islam Pura lahore, punjab
Telephone:	+92-42-7247251
Branch Office
Address:	13-FI. FLO, King Arcade, F-7 Markaz, Jinnah Super Market Islamabad, punjab
Telephone:	+92-51-2651350 +92-51-2651351
Branch Office
Address:	Melody-Office# 01, Blk-16, Civic Centre, Melody Market Islamabad, punjab
Telephone:	+92-51-2822270 +92-51-2822552
Branch Office
Address:	S-1, Park View Appartment, Block 10-A, Gulshan-e-Iqbal, Main NIPA Chowrangi, Behind Chase Departmental Store karachi, sindh 74000
Telephone:	+92-21-4992303
Branch Office
Address:	Sh# 28-A, Block 4-D, Empire Estate Building, G/Flr, Gulstan-e-Johar karachi, sindh 74000
Telephone:	+92-21-4018556 +92-214018557
Branch Office
Address:	h#8, Mezz Flr, Al-Habib Arcade, Block-7, Clifton karachi, sindh 74000
Telephone:	+92-21-5363841 +92-21-5363842
Branch Office
Address:	Sh# F-27, Opp. Session Court, Fatima Jinnah Road, Cantonment Hyderabad, sindh 74000
Telephone:	+92-22-2783939
Branch Office
Address:	Genearal Bus Stand Chwok Faisalabad, punjab
Telephone:	+92-41-9210244
Branch Office
Address:	Sh# 1-2, 1st Flr, Hussain Market, Opp. Bus Stand, Karkhana Bazar Peshawar,
Telephone:	+92-91-5836354
Branch Office
Address:	1-Famous Plaza, Block-11, DG KHAN Dera Ghazi Khan, punjab
Telephone:	+92-64-2460674
Branch Office
Address:	Nursery Chowk, Near Bilal Masjid, 1st Floor, Settelite Town Gujranwala, punjab
Telephone:	+92-55-3732620
Branch Office
Address:	Sheezan Hotel, Katchary Chowk Multan, punjab
Telephone:	+92-61-9201079
Branch Office
Address:	GULBERG BRANCH: 5-G, Al-Latif Centre, 88/D-1, Main Bouleward, Gulberg lahore, punjab
Telephone:	+92-42-5781330, +92-42-5781331 +92-42-5781332
Branch Office
Address:	19, First Floor, Defence Commercial Plaza, Y-Block, Phase-III, DHA lahore, punjab
Telephone:	+92-42-5734140
Branch Office
Address:	Shop-18, Block #10, Sector Basment-1, Umer Center, Akbar Chowk lahore, punjab
Telephone:	+92-42-5124210
Branch Office
Address:	Shop No.14 Plot No. 11, Old Duty Free Shop, Jinnah Avenue, Blue Area Islamabad, punjab
Telephone:	+92-51-2876249 +92-51-2876250 +92-51-2876251
Branch Office
Address:	Sh# 1, Mustafa Mension Plaza, (Mobile Center Plaza), Double Road, F-10 Markaz Islamabad, punjab
Telephone:	+92-51-2809651
Branch Office
Address:	Show Room# 01,14 A-1, Sareena Pride, Block-6 PECHS, Shahrah-e-Faisal karachi, sindh 74000
Telephone:	+92-21-4386710 +92-21-4386765
Branch Office
Address:	Sh# G-10, International Trade Center, Opp. Pizza Hut, I.I Chundrigar Road karachi, sindh 74000
Telephone:	+92-21-2470996 +92-21-2470997
Branch Office
Address:	Sh# 1, Wood Street Building, Talpur Road, Opp. National Bank Of Pakistan karachi, sindh 74000
Telephone:	+92-21-2474938
Branch Office
Address:	7/9 Mezz. Flr, Sakhi Wahab Complex, Cantonment Hyderabad, sindh 74000
Telephone:	+92-22-2784090 +92-22-2784730
Branch Office
Address:	05 Regency Arcade, Opp. PIA Main Office, The Mall Faisalabad, punjab
Telephone:	+92-41-2628091 +92-41-2628092 +92-41-2628093
Branch Office
Address:	Main Satyana Road, Nr. Utility Store Faisalabad, punjab
Telephone:	+92-41-9220288
Branch Office
Address:	Saddar Road, Nr Nirala Sweet, Peshawar Cantt Peshawar,
Telephone:	+92-91-5284689
Branch Office
Address:	Opposite Darzian Wali Kothi, College Road, Gujranwala, punjab
Telephone:	+92-55-4239539
Branch Office
Address:	Off # 5, Izhaar Plaza, Opp. Main GPO, Hassan Pervana Road Multan, punjab
Telephone:	+92-61-4587850