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Trump expected to withdraw support for Iran nuclear deal

12:32 PM | 13 Oct, 2017
Trump expected to withdraw support for Iran nuclear deal
WASHINGTON - US President Donald Trump is expected not to recertify Iran's compliance with the nuclear deal re-imposing sanctions on it.

Trump will announce his move during a speech at White House today. However, the decision to not back the deal will not withdraw the US from the agreement as it just empowers the Congress to decide on the issue within 60 days.

The deal, which is formally known as the Joint Comprehensive Plan of Action (JCPOA), was signed in 2015 limiting Iran's nuclear programme to non-military purposes.

Congress requires the US president to give consent for every 90 days that Iran is following the agreement. Trump has already approved it twice.

Amid reports of scrapping the deal, Trump received heavy criticism from home as well from its allies in Europe, who had restored economic and political ties with Iran after the agreement.

The president has been opposing the deal for a long time and announced during his campaign in election to end the agreement.

However, Secretary of State Rex Tillerson has been trying to woo allies countries in Europe and China.

Defence Secretary James Mattis told a Senate hearing earlier this month it was not in the national interest to abandon it.

Iran Nuclear Deal


JCPOA, commonly know as Iran nuclear deal, is an agreement signed between Iran and the five permanent members of the UN Security Council in 2015 following negotiations that have lasted years.
 Under the agreement, Iran is bound to eliminate stockpiles of medium-enriched uranium totally and decrease reserves of low-enriched uranium.

Iran denying producing nuclear weapons also agreed to bring down the the number of centrifuges installed for enriching uranium.

After the agreement, the United Nations and some European countries lifted the sanctions imposed on Iran. Besides, frozen assets worth $100 billion were also released.

The US also withdrew some secondary sanctions allowing non-US businesses and individuals to carry out commercial activity with Iran.

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 26 Feb 2024

Pakistani currency remains stable against US dollar in the open market on February 26, 2024 (Monday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 26 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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