KARACHI – Two women were sentenced to a year in jail for using counterfeit currency on the People’s Bus service in country’s financial capital Karachi.
A local court in country’s southeastern region convicted two women for using counterfeit currency on the People's Bus service. The court sentenced them to one year in prison each but ordered their release upon payment of Rs 10,000 surety.
The court stated that this punishment would deter the convicted from committing similar crimes in the future. The women were said to be from under privileged families, with one being a widow.
Despite the usual penalty being seven years for such offenses, the court considered their circumstances and sentenced them to one year each. The fake notes were ordered to be handed over to the central bank.
Sveral criminal networks are involved in production and circulation of fake currency in Pakistan. The most commonly counterfeited currency is higher value notes.
State Bank of Pakistan has introduced various security features in banknotes to make them more secure and reduce the risk of counterfeiting. Additionally, law enforcement agencies in Pakistan are actively involved in investigating and prosecuting individuals involved in the production and circulation of counterfeit currency.
Penalties for counterfeiting currency in Pakistan are severe, with the Pakistan Penal Code prescribing imprisonment for up to seven years for the offense.
Pakistani currency rates against US Dollar and other currencies on May 18, 2024 (Saturday) in open market.
US dollar was being quoted at 277.4 for buying and 280.35 for selling.
Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.
UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 277.4 | 280.35 |
Euro | EUR | 297 | 299.5 |
UK Pound Sterling | GBP | 348.5 | 352 |
U.A.E Dirham | AED | 75.25 | 76 |
Saudi Riyal | SAR | 73.5 | 74.25 |
Australian Dollar | AUD | 181 | 183 |
Bahrain Dinar | BHD | 747.77 | 755.77 |
Canadian Dollar | CAD | 203 | 205 |
China Yuan | CNY | 38.49 | 38.89 |
Danish Krone | DKK | 40.25 | 40.65 |
Hong Kong Dollar | HKD | 35.96 | 36.31 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.91 | 1.99 |
Kuwaiti Dinar | KWD | 913.28 | 922.28 |
Malaysian Ringgit | MYR | 58.69 | 59.29 |
New Zealand Dollar | NZD | 169.45 | 171.45 |
Norwegians Krone | NOK | 25.67 | 25.97 |
Omani Riyal | OMR | 730.59 | 738.59 |
Qatari Riyal | QAR | 76.41 | 77.11 |
Singapore Dollar | SGD | 203 | 205 |
Swedish Korona | SEK | 25.67 | 25.97 |
Swiss Franc | CHF | 309.01 | 311.51 |
Thai Bhat | THB | 7.57 | 7.72 |
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