Exchange rates for currency notes

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Fri, 26 Apr 2024, 10:14 AM

KARACHI, Apr 26 (APP): CURRENCY SELLING BUYING
USD 281.54 275.62
GBP 351.84 344.39
EUR 301.86 295.98
JPY 1.8044 1.7664
SAR 75.07 73.48
AED 76.65 75.55

LIBOR
LIBOR FOR CALCULATING INTEREST ON SPECIAL USD BONDS
LIBOR 1M 5.43264
LIBOR 3M 5.58606
LIBOR 6M 5.71791

US DOLLAR Indicative FBP Rates

CURRENCY SIGHT/
15 DAYS1M2M 3M4M 5M 6M

USD275.90273.45268.39264.32259.87255.45251.58

EUR 295.90293.47288.39284.44280.05275.69271.93

GBP 344.76341.73335.46 330.44 324.96 319.51 314.76

NBP exchange rates

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NNPS Desk

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Fri, 26 Apr 2024, 10:03 AM

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KARACHI, Apr 26 (APP): Treasury Management Division of National Bank of Pakistan (NBP) on Friday the following exchange rates.

CURRENCY SYMBOL TT Selling TT Buying
U.S DOLLAR USD 278.90 278.40
EURO EUR 299.43 298.90
JAPANESE YEN JPY 1.7866 1.7834
BRITISH POUND GBP 348.36 347.73
SWISS FRANC CHF 305.27 304.72
CANADIAN DOLLAR CAD 204.09 203.72
AUSTRALIAN DOLAR AUD 181.75 181.42
SWEDISH KRONA SEK 25.73 25.68
NORWEGIAN KRONE NOK 25.41 25.37
DANISH KRONE DKK 40.07 40.00
NEWZEALAND DOLLAR NZD 165.99 165.69
SINGAPORE DOLLAR SGD 204.82 204.45
HONGKONG DOLLAR HKD 35.74 35.67
KOREAN WON KRW 0.2022 0.2019
CHINESE YUAN CNY 38.75 38.69
MALAYSIAN RINGGIT MYR 58.38 58.27
THAI BAHT THB 7.52 7.51
U.E.A DIRHAM AED 76.42 76.28
SAUDI RIYAL SAR 74.32 74.19
QATAR RIYAL QAR 76.45 76.32
KUWAITI DINAR KWD 906.39 904.76

CONVERSION RATE FOR FROZEN FCY DEPOSITS
USD 278.3789
GBP 348.2241
EUR 298.5056
JPY 1.7885

SETTLEMENT DATE: 30-04-2024

Foreign exchange rates

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NNPS Desk

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Fri, 26 Apr 2024, 9:42 AM

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KARACHI, Apr 26 (APP): The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Friday.

CONVERSION RATES FOR April 26, 2024 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS)

SBP SETTLEMENT VALUE DATE April 30, 2024

USD 278.3789
GBP 348.2241
EUR 298.5056
JPY 1.7885

Pakistan needs strong defence in view of its location in ‘rough’ neighbourhood: Masood Khan

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NNPS Desk

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Fri, 26 Apr 2024, 9:05 AM

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WASHINGTON, Apr 26 (APP): Pakistan has a “rough” neighbourhood that require strong defence capabilities, Ambassador Masood Khan said on Wednesday at an event in Charlotte, North Carolina, while hoping that Islamabad’s defence ties with the US will continue.

“We have had strategic partnerships. We have had peaks and troughs. We had agreements, disagreements. But we have remained steadfast partners throughout these seven and a half decades,” the Pakistani envoy told a gathering of scholars, intellectuals and opinion-makers during ‘Ambassador Circle Series’ organized by World Affairs Council of Charlotte, North Carolina. “And”, he added, “we want to continue this partnership.”

The Council’s ‘Ambassador Circle Series’ provides opportunity for t he current and former ambassadors and high-ranking government officials who visit Charlotte to share their insights on diplomatic relationships between the United States and nations around the world .

Underscoring that the terrorist threat was still potent, the Ambassador said that “it has not disappeared because the United States has come back (from Afghanistan).

“It is a lethal threat not only to Pakistan and Afghanistan, but to United States and its allies in the region, Masood Khan added

Pakistan and the United States, he said, should work for regional peace and stability through all diplomatic channels and other peaceful means.

“In the non-security items, we should invest in trade and investment and increase United States FDI (Foreign Direct Investment) to Pakistan,” he added.

Stressing that Islamabad-Washington ties are strong, he told the gathering that Pakistan helped the United States not only with safe evacuation of its troops but also relocation of 75,000 Afghans. “As I speak to you, there is a large caseload of Afghans waiting to come to the United States and we are helping them as processing of their visas continues,” he said.

He said that the growth of tech industry of Pakistan in recent past was a promising in context of strengthened Pak-US relations as the country was part of the overall ecosystem which has made strides in tech industry.

The Ambassador highlighted that US venture capitalists were funding tech startups and around 80 US companies, mostly Fortune 500, were undertaking profitable business ventures in Pakistan.

“We are bound to be the next tech hub for the region,” he said.

Noting that US was the biggest single country export destination for Pakistan with $8.4 billion of exports of commodities and services, the Ambassador highlight healthcare, Climate Change, technology, and agriculture where the two sides could have an interface.

To a question about tourism potential of the country, the Ambassador said various forms of tourism, including adventure, religious and eco-tourism that annually attracted millions of tourists from across the globe.

Responding to another question, the Ambassador stressed the need to strengthen cooperation in IT and new technologies including AI, blockchain, robotics, 3D printing and tech start-ups.

“Tech start-ups create new opportunities for businesses for the United States, for Pakistan and the region.”

Naval Chief participates in 19th Western Pacific Naval Symposium in China

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NNPS Desk

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Fri, 26 Apr 2024, 12:20 AM

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RAWALPINDI, Apr 25 (APP): Chief of the Naval Staff, Admiral Naveed Ashraf has participated in the 19th Western Pacific Naval Symposium held in China.

The theme of the 19th Western Pacific Naval Symposium was “A Shared Future with the Sea”, an Inter Services Public Relations (ISPR) news release on Thursday said.

The naval chiefs and representatives of different countries from around the world participated in the symposium.

Chief of the Naval Staff, Admiral Naveed Ashraf held separate meetings with Commander US Pacific Fleet, First Sea Lord and Chief of Naval Staff of Royal Navy, Commander-in-Chief Russian Federation Navy.

The Naval Chief also met with Chief of Indonesian Navy, Chief of Bangladesh Navy, Chief of Naval Operations of South Korea, Chief of Navy of Singapore and Acting Deputy Commander of Brunei Navy.

During the meetings, the Naval Chief highlighted the role of the Pakistan Navy in dealing with the growing threats in the global maritime domain and the blue economy.

Pakistan Navy has been participating in the Western Pacific Naval Symposium as an observer since 2014

The recent visit of the Chief of the Naval Staff will strengthen bilateral cooperation with participating navies to enhance regional and global maritime security.

Chinese minister felicitates Ahsan Iqbal on reappointment as Planning minister

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NNPS Desk

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Thu, 25 Apr 2024, 11:56 PM

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ISLAMABAD, Apr 25 (APP): Chinese Minister for International Relations Li Jinchao congratulated Professor Ahsan Iqbal on his reappointment as Federal Minister for Planning, Development and Special Initiatives in a letter received on Thursday.

The Chinese government and Communist Party have extended felicitation to Ahsan Iqbal, wishing him continued success in his future endeavors, according to a news release issued by the Planning ministry.

In the letter, Li Jinchao praised Ahsan Iqbal’s outstanding contributions to promoting Pakistan-China friendship and cooperation, particularly in the context of the China-Pakistan Economic Corridor (CPEC).

He noted that Ahsan Iqbal’s efforts to ensure high-quality development under CPEC were commendable.

During their meetings last year, Li Jinchao and Ahsan Iqbal had fruitful discussions on enhancing Pakistan-China relations, exploring new avenues for cooperation and strengthening party-to-party ties between the Communist Party of China and the Pakistan Muslim League-Nawaz (PML-N).

The Communist Party, the Chinese minister wrote in the letter, was keen to further promote friendship and cooperation with the PML-N through joint efforts on governance and party-to-party exchanges.

He said the Chinese government was committed to working with Pakistan to achieve common interests and successes.

Heatwave amid Israel’s aggression in Gaza brings new misery, disease risk

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NNPS Desk

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Thu, 25 Apr 2024, 11:31 PM

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UNITED NATIONS, Apr 25 (APP): Unexpected blistering temperatures across the besieged Gaza have added to the daily misery faced by the enclave’s people and sparked new fears of disease outbreaks amid a lack of sufficient clean water and waste disposal, UN humanitarians said on Thursday.

The warning from the UN agency for Palestinian refugees, UNRWA, came as some 1.2 million people continued to shelter in tents pitched in and around the enclave’s southernmost city, Rafah, with nowhere else to go.

“It is like living in a greenhouse, no-one can tolerate living inside,” the UN agency said, quoting Mustafa Radwan, formerly from Gaza City, in a social media post on X.

With temperatures hovering around 40 degrees Celsius, Rafah’s residents are acutely aware that conditions will become even more uncomfortable once summer comes, with temperatures set to reach “50 or 60”, said Mr. Radwan, who lives in a tent with eight family members.

Clean water remains scarce in Rafah and long queues are an everyday reality, Mr. Radwan continued. “Everything is a queue, everything is suffering in displacement.”

In a related development, UN aid teams reported that no humanitarian missions were possible to northern Gaza on Wednesday as the Israeli army closed its checkpoints on two roads due to troop movements.

But the UN Office for the Coordination of Humanitarian Affairs (OCHA) noted that a joint UNRWA and UN Children’s Fund (UNICEF) mission did reach Jabalia on Tuesday, providing medical aid and water purification assistance.

The UN agency for Palestinians also reported successfully converting a children’s nursery into a functioning health facility in the Mawasi area of the devastated city of Khan Younis.

The pop-up clinic receives around 2,000 individuals daily and offers services ranging from chronic disease care, maternal and child health care, dental services and psychological counselling.

“With the onset of summer, difficulties increase from water scarcity and overcrowding, leading to the spread of infectious diseases, skin sensitivities, lice, and other illnesses,” said Dr. Ahmed Hanouda, the clinic’s director.

“We are, of course, trying to address these problems and provide services to the displaced people under these challenging circumstances based on the available resources. We look forward to offering better services and providing better facilities in the coming days,” he said.
Atrocious conditions

Asked at the regular UN daily briefing in New York about Israel’s plan which remains on the table to invade Rafah in its quest to eliminate Palestine fighters, Spokesperson Stéphane Dujarric said a ground operation would be a humanitarian catastrophe.

“We’re operating in a conflict zone…we will not be a party to any forced displacement of people”, he added.
Quizzed further about the rising temperatures, he said conditions are already atrocious. The whole system of treatment of solid waste has basically crumbled with the unimaginable sanitation impact that has on people’s health.”

SC reinstates Balochistan Assembly Speaker, sets aside ECP decision

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NNPS Desk

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Thu, 25 Apr 2024, 11:26 PM

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ISLAMABAD, Apr 25 (APP): The Supreme Court on Thursday set aside the suspension decision of Balochistan Assembly Speaker Abdul Khaliq Achakzai and restored him on his position.

A three-member SC bench headed by Justice Amin ud Din Khan, which heard the appeal of PML-N’s candidate, also terminated the decision of Election Commission of Pakistan (ECP) for re-polling in 12 polling stations of PP-51 Chaman and ordered the electoral body to decide the matter again within ten days after hearing all stakeholders.

During the course of proceedings, Justice Amin questioned that under which law the ECP had issued orders for re-polling in 12 polling stations.

Justice Muhammad Ali Mazhar remarked that the ECP viewed only 12 polling stations and ignored others. The ECP should have conducted an enquiry regarding the whole constituency, he said.

The ECP’s Director General Law adopted the stance that the Commission only viewed the area where the complaint of about excessive voters turnout was received.

It may be mentioned here that the ECP has withdrawn the notification for the success of PML-N candidate Abdul Khaliq Achakzai on the complaint of opposite candidate Asghar Khan and ordered for re-election in 12 polling stations.