Business
From The Past Pages Of Dawn: 1949: Seventy-five years ago: Rupee buying
字号+ Author:Smart News Source:Health 2025-01-13 13:11:51 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
-
BoP Exchange opens new branch
2025-01-13 13:02
-
Tulisa Contostavlos feeling better after painful health struggles
2025-01-13 11:34
-
Meghan Markle honoured at 2025 Golden Globe Awards after backlash
2025-01-13 10:50
-
Taylor Swift’s ex Joe Alwyn wins hearts as he deals with questions on split
2025-01-13 10:46
User Reviews
Recommended Reads
Hot Information
- Man dies in road accident
- Prince Andrew battles new blow as King Charles extends lifeline
- Amy Adams gets seal of approval on Golden Globes dress from someone special
- Zendaya confirms major rumours about Tom Holland romance
- Punjab governor visits Lok Virsa
- Prince Andrew battles new blow as King Charles extends lifeline
- Meghan Markle delights Prince Harry with honour to beloved royal
- Demi Moore expresses shock after 2025 Golden Globes win
- Paramedics plan sit-in in Peshawar to demand upgradation, pay raise
Abont US
Follow our WhatasApp account to stay updated with the latest exciting content