Pakistan News

    Iran Currency Rate In Pakistan

  • Currency dealers see ‘exchange rate bubble’ set to burst

    KARACHI: The exchange rate has been stable for more than 100 days now, but experts in the inter-bank market see a bubble that may burst in the next two months, experts and currency dealers said...

    Experts see no demand for the US dollars in the open market, but are of the view that primary dealers in the inter-bank market are under pressure from the State Bank to keep the exchange rate stable...

  • Iran moves to strike 4 zeroes from its battered currency

    Iran's president sent a bill to parliament Wednesday that would cut four zeroes from the value of the Islamic Republic's sanctions-battered currency, the rial, as tensions remain high between Tehran and Washington...

    By sending the bill to lawmakers, President Hassan Rouhani's government shows it is serious about an idea mulled for some time in Iran, where people discuss monetary transactions in both rials and informally but more...

  • Pakistan currency limit for travellers raised to Rs10,000

    KARACHI: People travelling to or from Pakistan can now carry Rs10,000 in cash after the State Bank of Pakistan (SBP) raised the limit on Tuesday by more than three times...

    A passenger can carry up to $10,000 or equivalent notes of another currency while going abroad, according to SBP’s foreign exchange rules...

  • 'Pakistan ready to play constructive role between Iran and Saudi Arabia,' Imran Khan tells Iran envoy

    Pakistan is ready to play a constructive and positive role between Iran and Saudi Arabia, prime minister-in-waiting Imran Khan told Iranian Ambassador Mehdi Honardoost on Saturday...

    The Iranian envoy had called on the Pakistan Tehreek-i-Insaf (PTI) chairman at his Banigala residence to congratulate him on his party's victory in the 2018 general elections, a press release issued by the party said...

  • Currency dealers quash panic rumours

    KARACHI: Though dollar gained a little against the local currency on Tuesday, inching towards Rs102...

    85 amid reports of its shortage in some parts of the country, currency dealers said there was no panic in the market...

  • Pricing oil in yuan may be next move in China’s currency ambitions

    However, on one front, there is a conspicuous lack of discussion — the internationalisation of the Chinese currency...

    That would seem odd considering the great efforts made by China to turn the yuan into a reserve currency by becoming the fifth currency in the basket that formed the International Monetary Fund’s (IMF) Special Drawing Right...

  • Market seesaws amid currency drama

    Depositors continue to suffer as banks maintain low deposit rates in an extended stable monetary policy regime while rising inflation continues to erode the net deposit rate further...

    4pc this August and you will find out that the deposit rate has already turned negative...

  • SBP surprises currency dealers with 1pc margin

    KARACHI: The State Bank has allowed exchange companies to charge up to one per cent as spread between buying and selling, surprising even currency dealers who were doing business with half a per cent spread...

    However, Exchange Companies Association of Pakistan’s (ECAP) Secretary Zaffar Paracha said the SBP had taken the decision on the demand of exchange companies...

  • Kazakhstan rejects Russia’s single currency proposal

    ASTANA: Kazakhstan will not accept a single currency in a trade bloc championed by Moscow, a top official said on Wednesday, rejecting a proposal from Russian President Vladimir Putin...

    The Russian leader has called for a common currency to be created in the Eurasian Economic Union (EEU), a four-country trade grouping consisting of Armenia, Belarus, Kazakhstan and Russia...

  • China wants to follow rules on currency basket: IMF

    Beijing tightly controls the yuan’s movements and has strong capital controls, but it is pushing for increased use of the currency for trade and investment as part of a long-term strategic goal to reduce dependence on the dollar and to raise its global economic clout...

    The yuan’s inclusion as the first emerging market currency in the basket would mark another stage in China’s rise as a global economic player...

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