Health
From The Past Pages Of Dawn: 1949: Seventy-five years ago: Rupee buying
字号+ Author:Smart News Source:US 2025-01-13 12:02:37 I want to comment(0)
KARACHI: The Reserve Bank of India has allowed “unlimited freedom” to the Indian Scheduled Banks to buy and sell “any amount” of Pakistani rupee at “any rate”, it was learnt … yesterday [Nov 17] from Indian sources. This freedom, it was stated, had been allowed by the Reserve Bank … to show to the world that the value of the Pakistani rupee in terms of the Indian rupee was lower than the one fixed by the Pakistan Government. But the fact remains that Indian businessmen are ready to trade with Pakistan at any cost and the decision of the Reserve Bank … is a result of sheer economic forces, it is maintained. Pakistan’s decision to allow the Scheduled Banks to make [remittances] to, and receive from, India within their own sources has, to some extent broken the inter-Dominion trade deadlock. It may, however, be stated that the State Bank order is intended to meet emergencies only. Unless India accepted the new Pakistan rupee rates, and the State Bank of Pakistan and the Reserve Bank of India agreed to buy and sell the two currencies, normal flow of trade could not be resumed, it was pointed out.
1.This site adheres to industry standards, and any reposted articles will clearly indicate the author and source;
Related Articles
-
Sentencing in Trump criminal case put off indefinitely
2025-01-13 11:45
-
Karachi schools to reopen today after winter break
2025-01-13 11:44
-
PM Shehbaz emphasises export-led growth, political stability for economic development
2025-01-13 11:38
-
Fingerprint, photo made mandatory for B-Form of children aged 10 and above
2025-01-13 09:53
User Reviews
Recommended Reads
Hot Information
- PHC moved against requirement of experience for judges’ appointment
- Karachi schools to reopen today after winter break
- Rana Sanaullah reiterates charter of economy call for Pakistan's 'uraan'
- After Kurram peace agreement, MWM chief announces ending sit-ins across country
- Nvidia’s powers
- Kurram warring tribes sign peace accord after days-long jirga
- After Kurram peace agreement, MWM chief announces ending sit-ins across country
- Remains of four more Pakistanis retrieved in Greek boat mishap
- Research-based planning vital for food security: HEC chief
Abont US
Follow our WhatasApp account to stay updated with the latest exciting content