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This is a list of circulating fixed exchange rate currencies, with corresponding reference currencies ... United Arab Emirates dirham: U.S. dollar: 3.6725 Notes ...
The State Bank of Pakistan then stabilized the exchange rate by lowering interest rates and buying dollars, to preserve the country's export competitiveness. 2008 was termed a disastrous year for the rupee after the elections: between December 2007 and August 2008, it lost 23% of its value, falling to a record low of Rs.79/ 20 against the US ...
Pakistan belongs to those nations who have the world's worst literacy rate, which is the main reason for its slow agricultural growth and sluggish economy. Pakistan's literacy rate is ranked 113 in a total of 120 countries. This is a huge issue for the country and its economic development. [194] [195]
Observed to show Pakistan's support and unity with the people of Jammu and Kashmir. 23 March Pakistan Day: یوم پاکستان. Yōum-e-Pākistān. Commemorates the Lahore Resolution, which formally demanded an independent Muslim-majority state to be created out of British India. The republic was also declared on this day in 1956. 1 May ...
The Karachi Interbank Offered Rate (KIBOR) is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Karachi wholesale (or "interbank") money market. [1] The banks used it as a benchmark in their lending to corporate sector. [2]
In the fiscal year 1949–50, Pakistan recorded a national savings rate of 2%, a foreign savings rate of 2%, and an investment rate of 4%. Manufacturing contributed 7.8% to the GDP, while services, trade, and other sectors accounted for a significant 39%, reflecting a policy centered around import-substituting industrialization .
Custom duties are levied according to the rates given in the First Schedule, which includes: Goods imported to Pakistan; Goods purchased in bond from one custom station to another; Goods brought from a foreign country to any customs station that are trans-shipped or transported without the payment of duty to another customs station.
The somoni was introduced on 30 October 2000, [1] replacing the rouble, at the rate of SM 1 = 1,000 Rbls. [2]One somoni is divided into 100 dirams. Diram banknotes were first introduced on 30 October 2000, and coins were later introduced in 2001 with the intention of creating a more efficient monetary system and gradually replacing the diram notes.