Global Rice News

The US Dollar Strengthens against Pakistani Rupee by 15 Paisas in Interbank Trading

In interbank trading, the US dollar has witnessed a gain of 15 paisas against the Pakistani Rupee on the first business day of the trading week. The new exchange rate for the greenback now stands at Rs278.35, compared to Rs278.20, which was the closing rate on the previous trading day.

Investors are closely watching the developments surrounding the new monetary policy of the Central Bank of Pakistan, as it plays a crucial role in shaping the country’s economy. The fluctuations in the exchange rate between the US dollar and the Pakistani Rupee can have a significant impact on various sectors, including import-export businesses and the overall financial market.

In other news, China and Pakistan have recently reached an agreement to enhance their mining cooperation and boost the implementation of a pact focused on strengthening mining development and industrial cooperation. The joint statement released by both countries emphasizes the significance of this collaboration in the context of the China-Pakistan Economic Corridor (CPEC), a key component of China’s ambitious Belt and Road Initiative.

During his visit to Beijing from June 4 to 8, Pakistani Prime Minister Shehbaz Sharif aimed to further elevate the level of cooperation under the CPEC. As a part of this effort, Chinese companies will be encouraged to invest in Pakistan’s mining industry, while the planning of mining industry parks, including the establishment of facilities for deep processing of ores, will be strengthened.

This agreement holds immense potential for both China and Pakistan. It not only strengthens their bilateral ties but also creates new opportunities for economic growth and development. By leveraging Pakistan’s rich mineral resources and China’s expertise in mining, both countries can drive industrialization, create jobs, and foster sustainable economic progress.

Source: [Daily Times](https://dailytimes.com.pk)