ANKARA – After years of cold relations, Israel and Turkey have announced the renewal of diplomatic ties in another move to improve relations.
The recent thaw comes on the heels of a telephonic conversation between Israeli prime minister Yair Lapid and Turkish President Recep Tayyip Erdogan.
The Israeli PM said the move will contribute to deepening our bilateral ties, and to strengthening regional stability.
Following my conversation with President @RTErdogan, Israel & Türkiye have decided to restore full diplomatic ties between our nations, including returning ambassadors.
— יאיר לפיד - Yair Lapid (@yairlapid) August 17, 2022
This will contribute not only to deepening our bilateral ties, but to strengthening regional stability. 🇮🇱 🇹🇷
Both countries also slated to exchange envoys and consuls general, however, no timeframe was given by any official.
Earlier this year, the two sides announced a new era in relations when Recep Tayyip Erdogan met with Israeli President Isaac Herzog in the Turkish capital.
Lapid appreciated the development and called it an important asset for regional stability and very important economic news for Tel Aviv.
Experts said Ankara is likely to improve relations with other nations amid growing political and economic isolation while the Lira also plummeted in recent years, leaving the Republic of Türkiye in economic turmoil.
Turkey earlier cut diplomatic ties in 2010 after a deadly encounter between Israeli commandos and Turkish activists on a passenger vessel near Gaza.
Previously, the two sides mulled diplomatic ties in 2016 but the ties did not last long while former US President Donald Trump’s decision to recognise Jerusalem as the capital of Israel sparked new controversy.
Erdogan, known for standing with the Palestinian cause, denounced Israel’s move and accused Israelis of genocide after their forces martyred Palestinian protesters in Gaza.
Pakistani rupee's value remained stable against US dollar, Euro, Pound, Dirham, Riyal and other currencies in the open market.
On Monday, the US dollar was being quoted at 285.15 for buying and 287.95 for selling.
Euro rate stands at 309.9 for buying and 310.5 for selling. British Pound GBP rate stands at 359.4 for buying, and 360.05 for selling.
UAE Dirham AED currently hovers around 77.45 while rate of Saudi Riyal stands at 75.82.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 285.15 | 287.95 |
Euro | EUR | 309.9 | 310.5 |
UK Pound Sterling | GBP | 359.4 | 360.05 |
U.A.E Dirham | AED | 77.45 | 77.6 |
Saudi Riyal | SAR | 75.82 | 75.97 |
Australian Dollar | AUD | 187.72 | 188.22 |
Bahrain Dinar | BHD | 759.94 | 767.94 |
Canadian Dollar | CAD | 209.99 | 210.49 |
China Yuan | CNY | 39.78 | 39.88 |
Danish Krone | DKK | 41.95 | 42.05 |
Hong Kong Dollar | HKD | 36.38 | 36.48 |
Indian Rupee | INR | 3.39 | 3.5 |
Japanese Yen | JPY | 1.49 | 1.56 |
Kuwaiti Dinar | KWD | 926.39 | 935.39 |
Malaysian Ringgit | MYR | 60.38 | 60.98 |
New Zealand Dollar | NZD | 173.44 | 175.44 |
Norwegians Krone | NOK | 26.25 | 26.55 |
Omani Riyal | OMR | 742.16 | 750.18 |
Qatari Riyal | QAR | 78.5 | 79.2 |
Singapore Dollar | SGD | 212.45 | 212.95 |
Swedish Korona | SEK | 27.09 | 27.19 |
Swiss Franc | CHF | 325.38 | 325.88 |
Thai Bhat | THB | 8.05 | 8.09 |
The gold remained under pressure as the precious metal moved down despite an upward trend in the international market.
On the first day of the week, the price of a single tola of 24-karat gold stands at Rs217,000 and 10 grams of 24k gold costs Rs186,043
A single tola of 22-karat gold costs Rs170,539, while 21 karat rate for each tola is Rs. 192,325 and the price of 18k gold is Rs164,850.
In the global market, gold prices hover at around $2086, gaining $14.44 on Monday.
City | Gold | Silver |
Lahore | PKR 217,000 | PKR 2,720 |
Karachi | PKR 217,000 | PKR 2,720 |
Islamabad | PKR 217,000 | PKR 2,720 |
Peshawar | PKR 217,000 | PKR 2,720 |
Quetta | PKR 217,000 | PKR 2,720 |
Sialkot | PKR 217,000 | PKR 2,720 |
Attock | PKR 217,000 | PKR 2,720 |
Gujranwala | PKR 217,000 | PKR 2,720 |
Jehlum | PKR 217,000 | PKR 2,720 |
Multan | PKR 217,000 | PKR 2,720 |
Bahawalpur | PKR 217,000 | PKR 2,720 |
Gujrat | PKR 217,000 | PKR 2,720 |
Nawabshah | PKR 217,000 | PKR 2,720 |
Chakwal | PKR 217,000 | PKR 2,720 |
Hyderabad | PKR 217,000 | PKR 2,720 |
Nowshehra | PKR 217,000 | PKR 2,720 |
Sargodha | PKR 217,000 | PKR 2,720 |
Faisalabad | PKR 217,000 | PKR 2,720 |
Mirpur | PKR 217,000 | PKR 2,720 |
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