Tag: us dollar
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Yuan overtakes US dollar, becomes most-used currency in cross-border transactions
SHANGHAI: Chinese Yuan becomes the most-used currency in cross-border transactions leaving behind the US dollar, according to official data. According to a Reuters report, in March, the Chinese yuan became one of the most widely-used currencies for cross-border transactions in China leaving behind the US dollar for the first time in history. According to official…
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State Bank introduces rules to curb dollar flight
The State Bank of Pakistan on Wednesday sharply cut the amount of dollars individuals could buy specially for travelling to Afghanistan
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SBP takes steps to put an end to US Dollar Smuggling
The State Bank of Pakistan (SBP) has taken an important decision to curb the rapidly declining foreign exchange reserves and the depreciation of the rupee. According to media reports, the SBP has imposed a major ban on the remittance of dollars from Pakistan to stop the smuggling of the foreign currency to Afghanistan. According to…
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Pakistan’s Economy reaching new Heights
While the world’s economy is declining, Pakistan’s economy is about to reach new heights. According to reports, Pakistan received 2.5 billion in Eurobonds, after which the country’s foreign exchange reserves have reached the highest level in three years. According to a statement released on SBP’s social networking site Twitter, Pakistan has received 2.5 billion…
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Pak Rupee strengthens against US Dollar at a record level
Lahore, 30th March: The Pakistani Rupee strengthens against the US Dollar at historic levels. According to the report of Baaghi TV, the rate of the America Dollar has gone down at a record level. As per reports, the dollar continues to depreciate while the rupee continues to appreciate against it. The dollar closed at a…
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China’s foreign currency reserves drop in February
BEIJING, Mar 8 (XINHUA/APP):China’s foreign currency reserves stood at 3.2049.9 trillion U.S. dollars at the end of February, down from 3.2106.7 trillion U.S. dollars registered at the end of January, the central bank said Monday. The country’s gold reserves remained unchanged by the end of February at 62.64 million ounces, according to the People’s Bank…
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Rupee gains 04 paisas against US dollar
ISLAMABAD, Feb 22 (APP):The exchange rate of Pakistani rupee strengthened by 04 paisas against the US dollar in the interbank trading on Monday and closed at Rs159.06 as compared to the previous day’s closing of Rs159.10. Meanwhile, according to Forex Association of Pakistan, the buying and selling rates of dollar in the open market were…
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Dollar Decreased by 07 Paisas in Interbank
ISLAMABAD (APP):The exchange rate of dollar decreased by 07 paisas in interbank and was traded at Rs156.2506 compared to last closing of Rs156.3235 State Bank of Pakistan (SBP) reported Wednesday. In open market, the buying and selling rates of dollar closed at Rs156 and Rs156.7 respectively. The SBP further reported that in interbank the price…