What was supposed to be a one-night show ended up being extended to four nights due to popular demand
entertainment3 hours ago
Pakistani rupee rose to a year high on Tuesday on the back of higher inflow of foreign currencies.
The rupee strengthened to 156.7 versus the US dollar (42.68 against the UAE dirham) on Tuesday, hitting the same level as March 15, 2020.
The strengthening of the south Asian currency is attributed to strong flows of remittances as well as improved export receipts, helping the foreign currency reserves to stay stable at $20.2 billion (b).
In February, workers’ remittances remained above $2b for the ninth consecutive month. Workers’ remittances amounted to $2.266b in February 2021, around the same level as the previous month and 24.2 per cent higher than in February 2020, the State Bank of Pakistan said.
During July 2020 to February, workers’ remittances reached $18.7b, 24.1 per cent higher than the corresponding period last year.
Currency analysts say that flow of foreign currencies has improved post-Covid-19 pandemic.
The central bank’s initiative of Roshan Digital Account (RDA) has seen deposits reaching $671 million (m) from over 100 countries. It is estimated that the inflows through RDA are expected to hit $1.5b by the end of this year.
Rajiv Raipancholia, chief executive officer (CEO) of Orient Exchange, had said that the State Bank of Pakistan is attracting foreign investments into the country, which is supporting the Pakistani rupee against the US dollar.
-waheedabbas@khaleejtimes.com
What was supposed to be a one-night show ended up being extended to four nights due to popular demand
entertainment3 hours ago
Cancer support centres play a pivotal role in offering not just medical assistance but also emotional and psychological support to women fighting cancer
kt network3 hours ago
Authorities warned 'reckless and careless drivers', stressing that hefty penalties are imposed on those who put lives at risk
uae4 hours ago
The government earlier announced the same holidays for those working in ministries and federal entities
uae5 hours ago
Artificial Intelligence plays a crucial role in ensuring reliable connectivity and advancing digital inclusion
business technology review5 hours ago
Global Gold & Currency Corporation unveils an easy gold trading platform, empowering investors of all levels
kt network5 hours ago
The event saw an overwhelming participation of over 500 individuals from various sectors of the community
kt network6 hours ago