Monday, June 22, 2009

Winalot And EAezGor

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Winalot And EAezGor
Filed Under (EA System, Journal) by Casey on 22-06-2009
Tags: EAezGor, Winalot

Extra! Extra! Read all about it… Win a lot and EA ezGor on the loose!!

Ok… lousy opening… but one just try to make it interesting no??

Anyway… finally… after days of testing and re testing I got some results out… Some EA can be really difficult to backtest you know. Some are pretty easy. Don’t know if it’s the coding or not… but Winalot and especially EAezGor took like forever to complete some backtest…

I wanted to stretch the backtest from 1999 but somehow or rather… my MT4 crashed…. I think this is because I was backtesting on my laptop and not on my PC. Yeah I know these sort of backtesting exercise should be done on the PC rather than a laptop but because I am constantly on the go, I work on a laptop more rather than a desktop. If it was a desktop while it is good, I have to run back and forth to test it and check if it’s done or not. blah blah blah…

Enough about my problems…

Let’s get down to some juicy part of this post shall we?

As usual I would run back testing since 2008… for both these two EA and below are the results (Click on graph to view statement)

Winalot

For EAezGor… I did only 2009 because it took so long … (Warning: the backtesting results file is pretty big for only 2009 results)

EAezGor

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Have You Ever Wondered?
Filed Under (EA System) by Casey on 17-06-2009
Tags: Bullshit, Forex Fantasy, Forex Maestro, Forex Magic Machine, Forex Wonder, HL Direct, Piracy, Scam, Semi Automatic Forex Engine

Have you ever wondered about most of this BS scam that has been going around since early this year? Yes… I wondered about it most of the time. With the new EA that came out… theforexwonder.com. It makes me wonder even more.

It has the same smell as a piece of $hit that has just been sitting there.

But this post is not ALL about this new EA. You might say this post is old news but so far it has not been compile in a more clearer way. So now I am going to compile one very big shabang on these fu(kers… It is so sad that it originates from somewhere close to home.

Here are the the posts when I first started discovering this bullshit…

While I have to admit, someone has already raise a red flag or pointed me to the information on my blog but I did not really put focus on this issue until I got another email from Zeno of 4xproject.com about this new EA… theforexwonder.com

I think it is about time to relive this BS and smoke it to kingdom come.

Ok… let’s start. Read the rest of this entry »

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Win a Lottery!!
Filed Under (EA System, Journal) by Casey on 16-06-2009
Tags: EAezGor, Fedora FX, Winalot

I guess I strike it rich this time!! Just after a few days after Fedora FX requested my assistance to review their EA. I got another requests.

EGO Boost My… my… am I that popular?

Let me pump up my ego a bit here and savior this new found fame…

Hah… I can continue to keep dreaming. Once is a fluke, the second time is a coincidences. Maybe when I get request day in day out can I proclaim that I am popular… Now that’s a thought.

But I must say, I did not start this blog for it to become a review site. I started this blog because I WANT TO MAKE MONEY FROM FOREX! Hmmm that did not sound right.. I think I started this blog to share my experiences with trading forex EA and of course the journey which I encounter in forex trading.

Sighh… but my performances does not seem to reflect that. I guess I stand a better chance at winning a lottery than trading forex. But I must persist…. move forward…

Oh… sorry… I think I have missed the point of this post. Anyway… I am again honored that someone had requested me to test and write a review on their EA…

If you haven’t figured out from my title, then it’s… Read the rest of this entry »

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Fedora FX
Filed Under (EA System) by Casey on 16-06-2009
Tags: Cyborg EA, Fedora FX, IBFX

Having backtested Fedora FX… I thought it would be a good idea to send back my result to Tom first and allow him to comment on it first before I write my ‘low down dirty Shane’ about it.

Tom has given me two EA, one of it is for GBPUSD which the performances is being advertising on his site while the other EA was for USDCAD. So I started with GBPUSD, while backtesting result for GBPUSD was excellent from 2008 to May 2009..

(Click on graph to view statement)

Fedora FX

Much needs to be said for USDCAD…

Fedora FX

So discarding USDCAD… I push the backtesting results for GBPUSD to 1999… And I was pretty sad with the results

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A Quick Wank is a NO-NO!
Filed Under (Journal, Performance) by Casey on 15-06-2009
Tags: Alpari, Cyborg EA, FXDD, FXOpen, IBFX

It’s confession time. At times I like to have a quick wank at forex. It is becoming too often and very scary and I believe I need to see a doctor about it…

You see… last thurday I thought I could get away with a quick shot on profit with Cyborg EA. I mean… hey I seem to be getting quite a good winning streak on my IBFX account with Cyborg. So… why not…

Devil The uttering of these two word ‘Why Not’ drew the devil inside of me. On top of that my chinese blood in me just had to scream ‘Punt! Punt! Punt! Punt!’

Gawd dang!! I am just sooooo weak…

I said to myself JUST one or two punt for that day. My luck could not be that bad right? I mean looking at how well Cyborg has been performing

So there I was… ok… maybe it wasn’t me. But somehow something happened and I move my risk level to 5% from my current 1% of my trading balance with Cyborg… ON ALL THREE CURRENCY PAIR!!

As the day have it… two trades were triggered at 0.56 lots on a $600 account balance going on a Martingale strategy on the first degree going up to 4.72 to the fourth degree!!

Who says this is not crazy risk, please raise up your hand?

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Fed Ex Came to Call
Filed Under (EA System, Journal) by Casey on 14-06-2009
Tags: Fedora FX, Fibonacci, Martingale System

It was very nice of a lot of people asking me what happened to me, when I was out of action since Tuesday… after my last post… I think a lot of them think that I splurge out post after post within a day or two without missing a beat…

So many thanks for your concern… I have been a busy bee I tell you… Well… not only was I busy thinking… but also busy planning… You see, after the discovery of Forex Transformer, Espionage, Conqueror… (which took me a few days to compose by the way) I had to reorganize my operation Euro Blitzkrieg…which I hope to write on my next post after this one…

Anyway, on top of reorganizing… I had to pull myself off the celling… I got a surprise email from FedX… :)
Fedora FX

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Transformer got Decepti-CONned?
Filed Under (EA System, Journal) by Casey on 14-06-2009
Tags: 4xProject, Bullshit, Forex Conqueror, Forex Espionage, Forex Peace Army, Forex Raid, Forex Transformer, Forex Vampire

Is this true?! Optimus Prime got Decepti-CONED?

Well… As I was testing and trying out all the EA on my operation bliztkrieg which seems to be going up in smokes… I found out that Transformer is actually another free EA.

When Onur asked me to investigate this EA, I saw the source code and though it looked familiar… but I could not put my nose on it. I search almost all the source codes on my library but could not find any similarity…

Then when Zeno from 4xproject.com emailed to me with regards to Transformer being the same as Conqueror and Vampire (New EA) It hit me!

I went to check Forex Conqueror’s source code and there you have it…

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Operation Blitzkrieg
Filed Under (EA System, Journal) by Casey on 10-06-2009
Tags: Automatic trading, Cyborg EA, EuroBlaster, Forex Boomerang, Forex Crusher, Forex Espionage, Forex Transformer, Manual trading, Pipzu

This is day 2 of operation Euro Blitzkrieg. I have set up all the EA on the demo ground to see how well it will perform on the training field.

Suffice to say… it was pretty tedious to set it up in an organize manner. It wasn’t easy but it has got to be done. To win the war… these soldiers must be ready. If they are not… then screw it.

As day 2 comes to an end… I found out more and more interesting things about these EA. Some were not what they are cut out for. But we shall see.

I have set up two different training ground. One demo platform is put in place to let them run freely without any control. Where else the other demo platform, the EA are controlled.

The controlled idea came about with I was reading and testing Firebird Driven. The reason for control is that because most of the EA has a very big stop loss level. The problem is that with big stop losses, all you need is one stop to whip your profits down to size.

And it would take a whole load of pips to get back on track. This is undesireable. And I believe what causes the see saw in the backtesting graph.

But this needs to be proven.. which EA needs to be control and which doesn’t. It is for that reason, I have set up two different demo to experiment.

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Thunder Thor
Filed Under (EA System) by Casey on 10-06-2009
Tags: Backtest, Thunder EA

I previously said that I would write something about this graph below…

Thunder 4WD EUR GBP V1

(Click on image to view statement)

Well… I was busy trying to enterprise my blog a bit… So had to wait a few days before writing this up.

Anyway… as the title suggest. This EA is non other than the FREE EA… Thunder 4WD EUR GBP V1.

This was pretty awkward. I manage to backtest this EA from 2008 till End May 2009. But when I started to backtest this further back to 1999… I got this error…

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Euro Blitzkrieg
Filed Under (EA System, Journal) by Casey on 06-06-2009
Tags: Automatic trading, Backtest, Cyborg EA, EuroBlaster, Forex Boomerang, Forex Crusher, Forex Espionage, Forex Transformer, Manual trading, Pipzu

I was trying to backtest other EA in my ‘To Be Tested’ folder… and as I was backtesting and backtesting and backtesting…

An idea popped up on my head…. But… before I dived into what this idea is about… I notice that during all these backtesting… a lot of the graph were see-saw shaped.

While the profit factor is interesting within the initial time period of 2008 till end May 2009… the see saw graph proves discouraging…

Maybe because I am brainwashed by the so called ’smooth’ equity curve… like this one below

Equity Curve
(Will talk more about this in another post)

Or recently… like this linear graph below…

Linear Line
hehe.. this guy made no promise to me that he will share his secrets…

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Forex News & Commentary

* USDCAD moves toward intraday support. Moves up today on lower oil

June 22, 2009
The USDCAD peaked at the 1.5554 level, a pip short of the resistance high from today’s earlier post and started to correct lower (see earlier post). The 100 bar MA on the 5 minute chart comes in at 1.1503. The price has pretty much tracked above the 100 bar…
* EURCHF consolidates lower today.

June 22, 2009
There was excitement in the EURCHF last week with support coming from BIS purchases of the pair. However, the downward bias has reemerged and wanders back down toward the 1.5000 level which has held the downside. The pair has held the 100 hour moving on the topside today but…
* GBPJPY forming its own Head and Shoulder at the top

June 22, 2009
The GBPJPY is down today as players exit the risk trades and enter the dollar after commodities and stocks decline. The GBPJPY may be forming its own head and shoulder formation (the EURUSD is struggling with its own formation) with the 154.82 area as the neckline level needed to break. …
* USDCAD slows its move higher. Comes off the high.

June 22, 2009
The USDCAD has had a big run up today. The low was reached in the 1st 5 minutes at 1.1327. The high has been 1.1554. The prior high today before the last move up was 1.1543. Watch these levels. I expect profit taking sellers against the levels. Moves above,…
* GBPUSD holds support at the 1.6329 level.

June 22, 2009
The 61.8% retracement of the move higher last week comes in at the 1.6329. The low reached 1.6328. In the past the holding has led to the short covering. Watch the upside.

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USD/JPY Forming Short Term Congestion USD/JPY Forming Short Term Congestion
The 15 minute USD/JPY has formed a Continuation Rectangle with a ceiling at 96.27 and a floor at 95.78. This is a short term time frame, but one that has defined the range of this pair since the Sunday open. more
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Saturday, 20 June 2009 02:06:59 GMT
Forex Trading Weekly Forecast - 06.22.09

US Dollar Consolidation Continues - Watch for Breakouts This Week
Euro: Are European Officials Over Zealous In Projecting a Recovery?
Japanese Yen to Rise as Risky Assets Extend Losses
British Pound Outlook Sours on Potential S&P 500 Reversal
Swiss Franc Weakness Likely on Credible SNB Intervention Threat
Canadian Dollar Doesn’t Act Like an Economy Ahead of Recovery Curve
Australian Dollar Vulnerable As Risk Appetite Abates
New Zealand Dollar Appreciation To Weigh on Economic Outlook
Full Article

Currency Analyst
John
Rivera
Euro Heavy Despite Higher German IFO, As ECB Rhetoric Lowers Interest Rate Expectations

The Euro has started to consolidate earlier losses after the German IFO report showed an improvement in business sentiment for the third straight month. The German IFO business climate reading in June rose for a third month to 85.9 from 84.3 signaling that the economy may haved bottomed.
Full Article

Market / Economic News
Euro Adheres to Falling Trend-Line; H&S Back in Play (Daily Classical)
Monday, 22 June 2009 17:35:15 GMT

Falling U.K. Home Prices May Postpone A BoE QE Exit Strategy
Monday, 22 June 2009 11:40:27 GMT
More Reports


Senior Currency Strategist
Jamie
Saetelle
Euro Drop Accelerates; Breakdown Level is 1.3750

US dollar crosses remain confined to their respective ranges but a US dollar breakout may be just around the corner. 1.3750 is the breakdown level for the EURUSD.
Full Article

Technical Analysis
Euro Drop Accelerates; Breakdown Level is 1.3750
Monday, 22 June 2009 13:40:10 GMT

FX Technical Weekly
Friday, 19 June 2009 20:55:02 GMT
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Forex Alerts
Canadian Dollar Front & Center; Sell @1.1580 (Midday Snapshot)
Monday, 22 June 2009 15:41:14 GMT

Forex Strategy Outlook: US Dollar Trend Boosts Trading Prospects
Monday, 22 June 2009 14:01:18 GMT

GBP/JPY Head and Shoulders Formation
Monday, 22 June 2009 13:49:17 GMT

US Dollar May See Breaks vs. the Majors Amid Growth Reports, Fed Decision
Monday, 22 June 2009 14:02:54 GMT

Analyst Picks
US Dollar Rises to Start Trading Week Despite Stock Gains
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Forex Strategy Outlook: US Dollar Trend Boosts Trading Prospects
Monday, 22 June 2009 14:01:18 GMT
By David Rodriguez, Quantitative Strategist

An early-week turnaround in the US Dollar has led our trend-based trading signals , and a continuation in US Dollar strength could set up ideal conditions for outperformance in key strategies. Extremely choppy market price action has made it difficult for longer-term trend traders to catch worthwhile currency moves, and our Momentum systems are no exception. Yet markets have been a bit too volatile for our Range strategies to do well, and unclear market outlook leaves us in a difficult position. When in doubt, we typically revert back to our high-risk/high-reward Momentum and Breakout systems.
Full Article

special fx reports
Euro May Rise on German IFO Gains But Overall Outlook Remains Bearish (Euro Open)
Monday, 22 June 2009 04:58:23 GMT
By Ilya Spivak, Currency Analyst

The Euro may see short-term gains ahead with Germany’s IFO Business Climate indicator expected to rise for the third consecutive month in June since hitting a record low in March. However, economic growth and interest rate expectations continue to favor a bearish Euro bias against the US Dollar.
Full Article
Also in Special Reports
Thursday, 18 June 2009 22:29:52 GMT
Equities and Carry Trade Topped
Friday, 19 June 2009 00:32:15 GMT
Risk Appetite Weighed by Forecasts for Recession, Looming Financial Risks
Friday, 12 June 2009 10:20:54 GMT
Tech Talk 06.19.2009
Friday, 19 June 2009 04:30:29 GMT
A Drop In Canadian Retail Sales Would Conflict With Bullish “Loonie” Technical Outlook
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Monday, 22 June 2009 17:35:15 GMT
Euro Adheres to Falling Trend-Line; H&S Back in Play (Daily Classical)
Daily Technicals
Monday, 22 June 2009 13:40:10 GMT
Euro Drop Accelerates; Breakdown Level is 1.3750
Daily FX Brief - US Open
Monday, 22 June 2009 09:46:23 GMT
Euro Heavy Despite Higher German IFO, As ECB Rhetoric Lowers Interest Rate Expectations
Daily Fundamentals
Friday, 19 June 2009 21:52:00 GMT
US Dollar Falls, But Finds Trendline Support - Breakout Potential?
Top FX Headlines
Monday, 22 June 2009 11:40:27 GMT
Falling U.K. Home Prices May Postpone A BoE QE Exit Strategy
Currency Crosses
Friday, 19 June 2009 18:01:37 GMT
Australian Dollar Crosses at Risk of Reversing
Cross Markets Data Reaction
Wednesday, 17 June 2009 15:26:21 GMT
US Dollar Correlation to Gold Signals Risk to Longer-Term Trend
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Pairs to Range Trade
Friday, 19 June 2009 20:08:11 GMT
High Risk Requires a Quick and Refined NZDJPY Range Setup
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Friday, 19 June 2009 20:55:02 GMT
FX Technical Weekly
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Friday, 19 June 2009 13:33:44 GMT
EUR/USD: Trading the German IFO Business Confidence Survey
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Friday, 19 June 2009 00:32:15 GMT
Risk Appetite Weighed by Forecasts for Recession, Looming Financial Risks
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Thursday, 18 June 2009 13:38:32 GMT
US Dollar Forecast Bearish Against Euro, Japanese Yen
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Friday, 29 May 2009 19:41:11 GMT
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Forex Trading Weekly Forecast
Saturday, 20 June 2009 02:06:59 GMT
Forex Trading Weekly Forecast - 06.22.09
Futures Positioning Cot Report
Monday, 08 June 2009 18:21:30 GMT
COT: Speculators Trim Euro Longs
Weekly Strategy Outlook
Monday, 22 June 2009 14:01:18 GMT
Forex Strategy Outlook: US Dollar Trend Boosts Trading Prospects
DailyFX Power Course Trading Tips
Friday, 19 June 2009 12:00:17 GMT
Trend of the Day - EUR/JPY
Watch What the Fed Watches
Thursday, 18 June 2009 00:34:09 GMT
Dollar Reserve Status Under Pressure, Bearing Brunt of Recovery
FX Correlations
Tuesday, 02 June 2009 16:53:44 GMT
FX Correlations (June): How Do Currencies Move In Relation To Each Other?
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* U.S. markets open with losses; Dollar and Yen, stronger
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* Forex: GBP/USD: Pound breaks below 1.6400
* Forex: GBP/USD: Pound weakens further to test 1.6400
* Foreign investors biught $9.05B in canadian securities; USD/CAD, at 1-month high

* Bourse Et Forex Attentistes Avant La Fed
* Eur/usd : Tendance Baissière À Confirmer
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* ContraTrader: Kolganov Forecasts By Eurusd, Gbpusd, Usdchf And Gold
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Jun 22, 13:09 GMT
* carlos: June 22nd 2009, Getting Ready For A Branch To Crack
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Eurozone recovers sustainably and Greenback remains weak 06-19-2009 11:01
The single currency did not surpass the 20-Day moving average for the second straight day, while during European trading the Euro traded close to 1.3910. The EUR/ USD pair climbed to a 1.3951 level and found support anticipating on 1.3880 during last night’s trading. However, the pair could >> read more
US Dollar defensive on reserve concerns 06-17-2009 13:01
Markets continue to aim on the durability of the Greenback as the global reserve currency, on which the US Dollar continued its defensive position. According to analysts, the Russians were eager to discuss the necessity for a new reserve currency, while some soothing was the result of the fact that >> read more
Yens gains massively and Euro rises on German confidence report 06-16-2009 14:12
The Japanese Yen posted impressive gains against the most important high-yielding currencies on the back of falling Asian equity markets due to speculations that a survey could show a delay in US industrial production, which resulted in risk aversion sentiment among traders today. The eurozone >> read more
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yusofhardy (1 month ago) Show Hide 0 Marked as spam Reply How do you differentiate between retracement and reversal?
leveragefx (1 month ago) Show Hide Marked as spam Reply That's easy. We use our trend identification tools FX Multimap which shows statistical strength/weakness and also FX Power Index which shows % of currencies that support buying/selling.

IF on the pullback to the fib level there is not much weakness on these tools and the previous move up had HUGE strength then we look at the 38 to 50% fib level to buy and the EXACT entry is when trendline over the highs gets broken! Reverse for shorts. Call us and I'll give you a week of our classes free.
masmir016 (1 month ago) Show Hide 0 Marked as spam Reply Great , very clear and simple explaination
on Fibonacci Retreacements, easy to understand
sbusz (2 months ago) Show Hide +1 Marked as spam Reply nice tutorial. liked how you kept it simple so even a noob like me can understand
smklakken (2 months ago) Show Hide 0 Marked as spam Reply Excellent explanation of Fibonacci
CurrencyCafe (2 months ago) Show Hide 0 Marked as spam Reply I run a hedge fund and Fibonacci trading is the backbone of my trading. This is an excellent video.
wwwForexsigcom (4 months ago) Show Hide 0 Marked as spam Reply The Fibonacci strategy can be very profitable if you know how to correctly implement it.
leveragefx (4 months ago) Show Hide Marked as spam Reply Our TopGun Software NOW HAS AUTOMATIC Fibonacci thanks to our new Visual Basic Programming language and one of our happy customers Reza who spent hundreds of hours programming AUTO Fibs! Thanks Reza, now ANYBODY can properly use Fibonacci
midwesttransplant (5 months ago) Show Hide 0 Marked as spam Reply With have competing Fib patterns (for ex. one that forms over a couple of days vs. one that forms over a couple hours), how do you know which to trade. I was just stopped out on a trade from a strong short term down trend on a bounce to the 61.8 level (I shorted) but realized that the low was actually the 50% retracement on a big 2 day move and the market kept moving up.

Is that the kind of thing that you think accounts for many busted Fib trades(or news of course).

Thanks!

Thanks
leveragefx (5 months ago) Show Hide Marked as spam Reply Yes, this is exactly what we teach our traders. There are indeed Fib patterns off of different time frame trends and when they line up they are called FIB CLUSTERS. Buying Fib cluster support or selling Fib cluster resistance are some of the highest probability trades.

We also teach which Fib level to buy/sell based on our FX Multimap trend strength and where the currency is on longer term charts.
Our new FX Power Index trend tool also improves accuracy.
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Pair time GMT Highs (bid) Lows (ask) time GMT Amplitude, %
*EUR/USD 19:09:00 1.3934 1.3937 19:09:00 0.02
*USD/JPY 19:09:00 96.26 96.285 19:09:00 0.03
*EUR/JPY 19:09:00 134.14 134.18 19:09:00 0.03
*EUR/CHF 19:09:00 1.5069 1.5074 19:09:00 0.03
*GBP/USD 19:09:00 1.6492 1.6498 19:09:00 0.04
*CHF/JPY 19:09:00 89.005 89.04 19:09:00 0.04
*USD/CHF 19:09:00 1.0812 1.08165 19:09:00 0.04
*GBP/JPY 19:09:00 158.76 158.835 19:09:00 0.05
*EUR/GBP 19:09:00 .8447 .84525 19:09:00 0.07
*GBP/CHF 19:09:00 1.78305 1.78425 19:09:00 0.07
*USD/CAD 19:09:00 1.134 1.1348 19:09:00 0.07
*AUD/USD 19:09:00 .80585 .8068 19:09:00 0.12
*CAD/JPY 19:09:00 84.705 84.81 19:09:00 0.12
*EUR/AUD 19:09:00 1.7295 1.732 19:09:00 0.14
*AUD/JPY 19:09:00 77.565 77.68 19:09:00 0.15
*NZD/USD 19:09:00 .64195 .64305 19:09:00 0.17
*EUR/SEK 19:09:00 11.0163 11.0393 19:09:00 0.21
*EUR/NOK 19:09:00 8.915 8.9339 19:09:00 0.21
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*USD/NOK 19:09:00 6.39225 6.41425 19:09:00 0.34
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Pakistan Forex Scam Case

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Pakistan Forex Scam Case
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In November 2008 Munaf Kalia (Chief Executive Officer of Khanani and Kalia International (Pvt.) Ltd.), Yusuf Kalia, and associates, were charged for illegally transferring funds from Pakistan to Afghanistan.[1]
Contents
[hide]

* 1 Background
* 2 Exit control list
* 3 Time Line
* 4 Hawala business
* 5 References

[edit] Background

Since the depreciation of the rupee from July 2007, the Federal Investigation Agency was investigating the unexpected depreciation by the orders of the Pakistani government. In November 2008, the government sought support from Interpol with whose help the FIA cracked down all over Pakistan searching for persons involved in illegal smuggling of US dollars outside Pakistan.[2]The FIA conducted raids in various parts of Karachi detained more than 12 people including Munaf Kalia, and ten officials of the National Database Registration Authority suspected of providing counterfeit identity cards.[3]Manaf Kalia appeared in the court of Omar Awan, judicial magistrate South Karachi on November 9, 2008. The FIA sought and obtained a remand to Lahore to face another charge.

[edit] Exit control list

The Special Civil Court of Lahore, ordered that more than 14 names of different people involved in the forex scam case be included in the ECL (Exit Control List) of Pakistan.

[edit] Time Line

On November 10, 2008, the State Bank of Pakistan suspended the licence of Khanani and Kalia for 30 days and debarred KKI’s head office, branches, franchises payment booths and currency exchange booths from undertaking any kind of business for violating its rules and regulations.[4]

On December 10, 2008, the State Bank of Pakistan suspended the licence of Khanani and Kalia for an indefinite period of time. The suspension order further stated that the company's headquarter, branch offices and/or franchise cannot carry any business dealings.[5]

[edit] Hawala business

The government’s action against Hawala trade, which involves international network of currency dealers for making unrecorded payments in each other’s countries, was one step in the series of the forex scam case[6][7]. These steps were taken at a time when the rupee depreciated by 30 percent against the dollar since the beginning of 2008.

[edit] References

1. ^ http://www.geo.tv/11-9-2008/28465.htm
2. ^ http://www.thenews.com.pk/updates.asp?id=59605
3. ^ http://www.geo.tv/11-9-2008/28465.htm
4. ^ http://www.thenews.com.pk/daily_detail.asp?id=145962
5. ^ http://geo.tv/12-6-2008/30215.htm Jang Group of News
6. ^ http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/Politics/12-Nov-2008/Hundi-system-to-be-smashed-Rehman
7. ^ http://www.usatoday.com/news/sept11/2001/10/01/hundi.htm

Retrieved from "http://en.wikipedia.org/wiki/Pakistan_Forex_Scam_Case"
Categories: Foreign exchange market | Finance fraud | Economy of Pakistan
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Budgetary measures to provide much-needed relief to public: Gilani
Saturday, 20 June 2009 12:15
Prime Minister, Syed Yousuf Raza Gilani, has expressed the confidence that the steps taken in the budget 2009-2010 will provide much-needed relief to the people. He stated this while talking to a delegation of the Muttahida Qaumi Movement (MQM), which led by Minister for Overseas Pakistanis, Dr Farooq Sattar, called on the Prime Minister at his Parliament House Chamber here on Friday.

Read more: Budgetary measures to provide much-needed relief to public: Gilani
NWFP budget termed balanced, poor-friendly
Saturday, 20 June 2009 12:14
The NWFP Minister for Population Welfare, Saleem Khan has termed the NWFP budget for the fiscal year 2009-10 as a balanced and poor friendly saying that despite unfavourable circumstances, the provincial government had announced a tax-free and welfare-oriented budget, which was not less than a big achievement in the prevailing scenario.

Read more: NWFP budget termed balanced, poor-friendly
Inflation to stay a major challenge amid rising oil prices: Hina
Saturday, 20 June 2009 12:13
Minister of State for Finance Hina Rabbani Khar on Friday said that inflation would continue to be a major challenge in the next fiscal year on the back of rising oil prices in the global market. Responding to the criticism of Senators, the Minister winding up speech on the budget debate said that rising prices of commodities and not the financial crisis was biggest threat to Pakistan.

Read more: Inflation to stay a major challenge amid rising oil prices: Hina
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Interest Rates
Interest Rates Of Pakistan PAK 15.00%
Interest Rates Of New Zealand NZD NZD 5.00%
Interest Rates Of Australia AUD AUD 4.25%
Interest Rates Of United Kingdon-UK GBP GBP 1.50%
Interest Rates Of Europe EURO EUR EUR 2.00%
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Economic Indicators
Economic Indicators
Annual 2007/08
Foreign Debt $45.00bn
Per Cap Income $1085
GDP Growth 5.8%
Average CPI 12.00%
Monthly May

Trade Balance $-1.06 mln
Exports $1.49 bln
Imports $2.56 bln
Weekly June 15, 2009
Reserves $11.515 bln

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