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Pakistan-Iran borders now open 24/7 to foster trade growth

04:50 PM | 24 May, 2024
pakistan iran borders

In a move to strengthen economic ties with Iran, Pakistan has decided to keep two border crossing points open 24 hours a day, seven days a week. The decision aims to enhance the flow of goods between the two countries and create new economic opportunities.

Pakistani Ambassador to Iran Muhammad Mudassir Tipu announced the development on Twitter, calling it a "big step forward to promote business between Pakistan and Iran."

The two border crossing points, Taftan and Gabd, will now operate around the clock, facilitating the exchange of goods and services. The move is part of a broader effort to transform the Pakistan-Iran border from a "border of peace" to a "border of prosperity."

During Iranian President Seyyed Ebrahim Raisi's recent visit to Pakistan, the two countries agreed to cooperate in the energy sector, including electricity trade and the Iran-Pakistan gas pipeline project. The joint statement issued after the visit highlighted the importance of a long-term economic partnership and collaborative regional economic and connectivity model.

The two sides aim to boost bilateral trade to $10 billion over the next five years through joint economic projects, border markets, and new border openings. The decision to keep the borders open 24/7 is expected to facilitate barter trade mechanisms, expedite the finalization of a free trade agreement, and enhance connectivity between the two countries.

As members of the Belt and Road Initiative and Economic Cooperation Organisation, Pakistan and Iran are committed to enhancing cooperation in connectivity, infrastructure development, and energy sectors.

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Currency Rates in Pakistan - PKR to US Dollar, Euro, Pound, Dirham, Riyal - 21 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 21, 2024 (Friday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.6 for buying and 280.75 for selling.

Euro's buying rate stands at 297 and selling rate is 299.5 while British Pound rate is 350.5 for buying, and 354 for selling.

UAE Dirham AED was at 74.80 and Saudi Riyal at 72.75.

Forex Rates

Currency Symbol Buying Selling
US Dollar USD 277.6 280.75
Euro EUR 297  299.5 
UK Pound Sterling GBP 350.5  354 
U.A.E Dirham AED 74.80  75.6
Saudi Riyal SAR 72.75 73.5
Australian Dollar AUD 181.2 183
Bahrain Dinar BHD 740.91 749.18
Canadian Dollar CAD 203.5 205.5
China Yuan CNY 38.4 38.8
Danish Krone DKK 40.11 40.51
Hong Kong Dollar HKD 35.68 36.03
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.9 1.98
Kuwaiti Dinar KWD 907.62 916.62
Malaysian Ringgit MYR 59.07 59.67
New Zealand Dollar NZD 170.98 172.98
Norwegians Krone NOK 28.83 29.13
Omani Riyal OMR 723.62 731.62
Qatari Riyal QAR 76.53 77.23
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.68 26.98
Swiss Franc CHF 315.08 317.58
Thai Bhat THB 7.59 7.74

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