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Remittances can save rupee from further depreciation

SYED MOHAMMAD TAHIR  LAHORE: The local currency rupee is continuously declining with the passage of time because Pakistan’s exports are plummeting year on year. All economic indicators are showing downward trend except remittances. It is really painful that we could not even achieve last year’s export target of $25 billion that created a panic of buying greenback in the local ... Read More »

Pak-China currency swap – wait and watch

CUSTOMS TODAY REPORT  KARACHI: With all eyes on the upcoming budget, very few people realise there is an auction, under the central bank’s Chinese Yuan (CNY) Loan Facility, due to be held on June 4. The State Bank of Pakistan had entered a bilateral currency swap arrangement with the People’s Bank of China (PBC) in December 2011, which was implemented ... Read More »