A number of money changers in Kandahar said they see an increase in smuggling of US dollars out of Afghanistan to some neighboring countries, mainly Pakistan, alarming that it will further affect the fragile economic situation in the country if it continues. They said that "millions of Pakistani...
USD is considered as an important currency across the globe. The rate of USD matters to every country, including Pakistan. Because Pakistan uses USD in worldwide trade activities, USD is the reserve and significant currency of the United States. After the US trade slows down, US Dollars have...
The open currency market which follows the inter-bank market also shed one rupee and settled at Rs142.30 against the dollar on Friday, according to the Exchange Companies Association of Pakistan. “An interesting situation has emerged in the market. Those holding dollars are not willing to sell ...
In a press release announcing the decision to slash the interest rate, the State Bank of Pakistan said it was designed to help the struggling economy cope with the fallout of a preventive COVID-19 lockdowns across the country. The bank said it was monitoring the situation closely and would ...
calls have mounted for the State Bank of Pakistan to play its role in bringing stability to the exchange rate, as its current volatility poses a serious threat to the economy. Even in the open market, say traders, it has become nearly impossible to secure dollars, as demand far outstrips ...
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There has been a lot of discussion around these issues. Let me start with the U.K.: The first thing I want to acknowledge is the situation is definitely challenging. There has been a significant shock in terms of the energy price pressures, and no government policy can fully offset that....
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