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2022 Pakistan floods in summer cause over $30 billion dollars in economic losses in Pakistan. [43] At the end of March 2022, the State Bank of Pakistan's reserves stood at $11.425bn, but they gradually tanked to an almost four-year low of $6.715bn on 2 December. Pakistan's foreign exchange reserves equal to just five weeks of merchandise imports.
This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
By mid-2021, they were back around $3.2 trillion. The reserves fluctuated but remained stable around the $3.2 trillion mark throughout 2022 and 2023, currently standing at about $3.19 trillion. China's reserves include holdings in major currencies such as the U.S. dollar, euro, yen, and others.
US dollar-Pakistani rupee exchange rate. Between 1948 and July 1955, the Pakistani rupee was effectively pegged to the U.S. dollar at approximately Rs.3/31 per U.S. dollar. Afterwards, this was changed to approximately Rs.4/76 per U.S. dollar, a devaluation of 30%, to match the Indian rupee's value. [30]
7 – China and India blame each other for firing warning shots on the south bank of Pangong Tso. [52] 10 – Foreign affairs ministers of China and India meet in Moscow and agree upon five point joint statement. [53] 22 – Sixth round of corps-commanders commanders meeting takes place.
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.
India–China tension in the Depsang area started months before the May 2020 standoff. [216] Chinese presence, 18 km (11 mi) inside the Indian perception of the LAC, near the Y-junction or Bottleneck on Burtsa Nala valley, [n] was reported by Indian media on 25 June 2020. The reports described movement of troops, heavy vehicles and military ...
With escalating border tensions leading to the 1962 Sino-Indian war, China and Pakistan aligned with each other in a joint effort to counter India and the Soviet Union as both have border disputes with India. One year after China's border war with India, Pakistan and China signed the Sino-Pakistan Agreement. The agreement resulted in China and ...