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The Pakistani rupee depreciated against the United States dollar until the turn of the century when Pakistan's large current account surplus pushed the value of the rupee up against the dollar. The State Bank of Pakistan then stabilized the exchange rate by lowering interest rates and buying dollars, to preserve the country's export ...
In late January, Pakistan lifted the artificial cap on its currency, causing the rupee to plunge 20% against the dollar in a few days. The government raised fuel prices by 16%. And the Pakistani central bank raised its interest rate by 100 basis points to battle the country's highest inflation in decades, expected to be as high as 26% in ...
The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.
This monumental transaction follows the sale of 25kg of gold from a UAE gold exporter to a buyer in India for around 128.4 million rupees ($1.54 million), according to Reuters.
By May 2019, the Pakistani rupee had undergone a year-on-year depreciation of 30% vis-a-vis the US Dollar. In 2020 CPEC Phase 2 has been started, with new billion dollar agreements. Pakistan is focusing on its own Electric Vehicle, biomedical, electromagnetic, smartphones and semi-conductor Industry.
The Pakistani rupee has remained relatively stable against the US dollar since 2015, though it declined about 10 percent between November 2017 and March 2018. [1] Balance of payments concerns have also reemerged as a result of a significant increase in imports and weak export and remittance growth.
Officials in California are working to remove a racist term towards Native American women in more than 30 locations in California, according to the state Natural Resources Agency.. The removal of ...
HANOI (Reuters) -Chinese online retailers Temu and Shein have suspended their operations in Vietnam as the companies work to register their e-commerce services with the Southeast Asian nation's ...