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Tag Archives: foreign currency

Dubai Customs seizes foreign currency worth Rs 3.75 lakh at airport

DUBAI: Foreign currency worth Rs 3.75 lakh was seized from a passenger who was about to board a flight for Dubai on May 24 at Mangaluru International Airport, airport officials said. He was carrying foreign currency totalling 12,500 Saudi Arabian Riyals, 7,755 UAE Dirhams, 50 Kuwaiti Dinars and 400 Qatar Riyals equivalent to Rs 3,75,023, a release said. The passenger ... Read More »

UAE national caught at Allama Iqbal int’l airport in money laundering case

DUBAI: Customs officials arrested a man identified as Abdul Basit at Allama Iqbal airport and recovered gold along with foreign currency above the prescribed limit. The customs officials said that Abdul Basit carried 15 kilograms of gold and foreign currency worth 30 million Pakistani rupees. The currency and gold was intended to be carried to Dubai through private airlines The ... Read More »

Vietnamese govt to let foreign currency reserves fund development

HANOI: The Government, for the first time, has instructed relevant ministries to create a legal mechanism to allow for part of foreign currency reserves to be used to fund development projects. At the Government’s regular meeting in April, the State Bank of Viet Nam, in conjunction with the ministries of Finance, and Planning and Investment, were directed to research and ... Read More »

Russian Bank to raise rate for foreign-currency loans to banks

MOSCOW: Russian ruble fell for a third consecutive day, extending losses from Monday when the Central Bank announced it would raise the rate for foreign-currency loans to banks. The Bank is trying to curb the 15 percent the currency has gained this year. Bank of Russia said it will increase the one-year foreign currency repurchase agreement (repo) to the London ... Read More »

Customs seizes $26,000, other foreign currency from Thai woman at Islamabad Airport

ISLAMABAD: Iram M Amir, the additional collector of Islamabad Model Customs Collectorate, has ordered the officials concerned to seize the foreign currency, which was recovered from a Thai woman, Oraphan Kanma, at the Islamabad Airport. The foreign currency included $26,000, £100, €10 and 6,480 Thai baht. The woman had concealed the money in her coat. The additional collector ordered the ... Read More »

Ukraine’s hryvna currency plunges 30% against dollar as foreign currency auctions scrapped

KIEV: Ukraine’s hryvna currency plunged about 30 percent against the dollar, traders said, after the Central Bank abandoned the foreign currency auctions that had effectively pegged the exchange rate. The Central Bank scrapped the daily auctions, which had set an unofficial peg for banks to follow, and also raised its main interest rate to 19.5 percent on Thursday as it ... Read More »

Sri Lanka customs seizes Rs154m worth foreign currency

RATMALANA: The Criminal Investigations Department, Customs and the Central Bank of Sri Lanka has raided on a complain at Ratmalana and grasped a briefcase containing foreign currency including US dollars and Swiss Frank worth Rs 154 million in local currency. The briefcase was opened in the presence of the Magistrate. Some 20 bundles of foreign currency in the denomination of ... Read More »

Customs Appellate Tribunal adjourns hearing of currency seizure

KARACHI: The Customs Appellate Tribunal has adjourned the hearing of an appeal for the refund of foreign currency confiscated from a passenger as no one showed up to represent the Collectorate of Preventive, Karachi. According to details, the appellant Eijaz Hussain, who was heading Dubai, was arrested from the restricted area after being checked in and was issued the boarding ... Read More »

HBL earns Rs21.8b, Sindh Bank posts Rs720m profit

KARACHI: Habib Bank (HBL) has announced its consolidated profit of Rs21.8 billion of 3 quarters of fiscal year 2014, showing growth of 31 per cent as it earned Rs16.6 billion during the corresponding period of last year. As per details, HBL has also announced an interim cash dividend of Rs2.25 per share in addition to Rs4.25 per share dividend already ... Read More »

Weekly review: Rupee sheds 25 paisas against dollar after Eid holidays

LAHORE: The Pakistani rupee weakened in the following two-trading-day week started after the weekend and Eidul Adha holidays as the US dollar gained 20 paisas in inter-bank and 25 paisas in open market against Pakistani rupee from Thursday to Friday. As per detail, the value of dollar in inter-bank market was 102.4 on Thursday and 102.6 on Friday against rupee, ... Read More »

Weekly review: Rupee steadier, weighs 20 paisas in interbank

LAHORE: The US dollar lost 20 paisas in inter-bank and 15 paisas in open market against Pakistani rupee during the week-long trading from Monday to Friday. As per detail, the value of dollar in inter-bank market was 102.6 on Monday and 102.4 on Friday against rupee, while, in open market its value was 102.75 on Monday and 102.6 on Friday, ... Read More »

Weekly review: Rupee steadier trend persists

LAHORE: The US dollar lost 10 paisas in inter-bank and 5 paisas in open market against Pakistani rupee during the weeklong trading from Monday to Friday. As per detail, the value of dollar in inter-bank market was 102.7 on Monday and 102.6 on Friday against rupee, while, in open market its value was 102.9 on Monday and 102.85 on Friday, ... Read More »

Australian dollar weakens, pound joins the rally

LONDON: The British pound, to take advantage of weak Australian dollar, has joined other low-yielding major currencies like the US dollar and euro, as the broader Australian dollar exchange rate complex suffers fresh weakness. Sources said that independent foreign exchange providers will be able to deliver up to 5 percent more exchange rate when compared to bank in many instances. ... Read More »

Weekly review: Rupee firms in inter-bank, weakens in open market

LAHORE: The US dollar lost 20 paisa in inter-bank and gained 5 paisa in open market against Pakistani rupee during the weeklong trading from Monday to Friday. As per detail, the value of dollar in inter-bank market was 102.6 on Monday and 102.4 on Friday against rupee, while, in open market its value was 102.85 on Monday and 102.9 on ... Read More »

Dwindling Pak rupee

Pakistani rupee is under pressure again, losing value against US dollar in inter-bank and open markets day by day. Once upon a time, rupee was attached with UK pound and all the payments used to be made in pound sterling, but was shifted to dollar in early 70s. Rupee had never been valueless even during the united Pakistan despite a ... Read More »

Rupee strengthens in inter-bank, weakens in open market

KARACHI: The Pakistani rupee strengthened in inter-bank against US dollar on Wednesday, after many days downtrend in market due to floods and political chaos in the federal capital. As per details, the US dollar weakened 20 paisa to reach 102.5 in inter-bank and strengthened 5 paisa to 102.9 in open market against Pakistani rupee on Wednesday. On Tuesday, the US ... Read More »

Dollar up 30 paisa in inter-bank due to increased demand

KARACHI: The Pakistani rupee weakened in inter-bank and strengthens in open market against US dollar on Tuesday. As per details, US dollar strengthened 30 paisa to reach Rs 102.7 in inter-bank and weakened 5 paisa to reach Rs 102.85 from earlier Rs 102.9 in open market. On Monday, the US dollar strengthened against Pakistani rupee in inter-bank and open market ... Read More »

Rupee continues to lose value against US dollar

KARACHI: US dollar strengthened against Pakistani rupee in inter-bank and open market on the first trading day of trading on Monday. As per details, US dollar strengthened 40 paisa to reach 102.9 in open market and 20 paisa to reach 102.4 in inter-bank market against Pakistani rupee. On last Friday, the US dollar strengthened 35 paisa to reach 102.5 in ... Read More »

Weekly review: Rupee sheds 50 paisa against dollar

LAHORE: The US dollar strengthened 50 paisa and 25 paisa in inter-bank and open markets respectively during the weeklong trading from Monday to Friday, as the deadlock between the negotiators — representing the government and Pakistan Tehreek-e-Insaf (PTI) over the resignation of Prime Minister Nawaz Sharif — continued during weeklong talks. The US dollar strengthened 20 paisa against Pakistani rupee ... Read More »

Rupee continues to lose value, sheds 40 paisas

KARACHI: The US dollar strengthened against Pakistani rupee in inter-bank and open market on last day of trading on Friday. As per details, the US dollar strengthened 35 paisas to reach 102.5 in open market and 40 paisas to reach 102.2 in inter-bank market against Pakistani rupee. On Thursday, however, Pakistani rupee weakened 15 paisas to reach 102.15 in open ... Read More »