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Historic as Pakistan starts border trade with Kazakhstan via Silk Route

06:25 PM | 4 Jun, 2023
Historic as Pakistan starts border trade with Kazakhstan via Silk Route
Source: File Photo

ISLAMABAD – Trade and economic ties are gradually expanding between Pakistan and Kazakhstan, and in a recent development, Islamabad has sent its first transit consignment to the Central Asian nation via the historic Silk Route.

The two sides ushered in a new era of trade border trade was started under Quadrilateral Traffic in Transit Agreement (QTTA) signed between Pakistan, Kazakhstan, China, and Kyrgyzstan.

Two sides also marked the start of a new era at the Silk Route Dry Port (SRDP) which is located near Khunjerab Pass. The Ambassador of Kazakhstan to Pakistan, Gilgit Baltistan Commerce Minister, Collector Customs, and other officials attended the ceremony.

The first transit consignment will move through China to Almaty, Kazakhstan’s trading hub. The new route cuts trade time and costs and is said to be a promising avenue for regional nations including Pakistan.

As of June 2023, trade volume between the two sides stands at $219 million, which experts say is less than its true potential as the South Asian nation shares a huge market with the EU, Gulf regions, and the US.

Under the Quadrilateral Traffic in Transit Agreement (QTTA), the two sides can rake in historic gains with trade between Central Asia and the Gwadar Port.

Pakistan and Kazakhstan earlier signed several agreements to promote trade, investment, and economic cooperation. Key areas of collaboration include agriculture, energy, pharmaceuticals, textiles, and tourism.

Daily Pakistan Global Web Desk

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PKR exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 22 April 2024

Pakistani currency remains largely same against US Dollar and other currencies on April 22, 2024 Monday.

USD to PKR rate today

US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro stands at 293 for buying and 296 for selling while British Pound hovers at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.20 and Saudi Riyal's new rate was at 73.30. 

Today’s currency exchange rates in Pakistan - 22 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 293 296
UK Pound Sterling GBP 342.5 346
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.55 748.55
Canadian Dollar CAD 201 203
China Yuan CNY 38.47 38.87
Danish Krone DKK 39.78 40.18
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.11 912.11
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.61 25.91
Omani Riyal OMR 723.2 731.2
Qatari Riyal QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.47 307.97
Thai Bhat THB 7.56 7.71

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