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The Pakistani rupee (ISO code: PKR) is the official currency in the Islamic Republic of Pakistan.The issuance of the currency is controlled by the State Bank of Pakistan.It was officially adopted by the Government of Pakistan in 1949.
In terms of time usage, both the 24-hour clock and 12-hour clock are widely used in the country. The 12-hour notation is widely used in daily life, written communication, and is used in spoken language. The 24-hour notation is used in situations where there would be widespread ambiguity.
Pakistan has experimented with Daylight Saving Time (DST) a number of times since 2002, shifting local time from UTC+05:00 to UTC+06:00 during various summer periods. Daylight saving time in Pakistan has not been observed since 2009.
The little-endian format (day, month, year; 1 June 2022) is the most popular format worldwide, followed by the big-endian format (year, month, day; 2006 June 1). Dates may be written partly in Roman numerals (i.e. the month) [citation needed] or written out partly or completely in words in the local language.
Colour key and notes Indicates that a given currency is pegged to another currency (details) Italics indicates a state or territory with a low level of international recognition State or territory Currency Symbol [D] or Abbrev. ISO code Fractional unit Number to basic Abkhazia Abkhazian apsar [E] аҧ (none) (none) (none) Russian ruble ₽ RUB Kopeck 100 Afghanistan Afghan afghani ؋ AFN ...
If the spot date falls on the last business day of the month in the currency pair then the delivery date is defined by convention to be the last business day of the target month e.g. assuming all days are business days: if spot is at 30 April, a one-month time to expiry will make the delivery date 31 May. This is described as trading "end-end".
On 15 September 1951, following the findings of mathematician Mahmood Anwar, two time zones were introduced. Karachi Time (KART) was introduced in West Pakistan by subtracting 30 minutes from UTC+05:30 to UTC+05:00, while Dacca Time (DACT) was introduced in East Pakistan by subtracting 30 minutes off UTC+06:30 to UTC+06:00.
The spot exchange rate is the current exchange rate, while the forward exchange rate is an exchange rate that is quoted and traded today but for delivery and payment on a specific future date. In the retail currency exchange market, different buying and selling rates will be quoted by money dealers. Most trades are to or from the local currency.