Foreign Exchange - Financial Daily News Site

Delay in Forex payment: PMLTC seeks help of Chinese embassy – Markets

What’s right? - Opinion - Business Recorder

ISLAMABAD: M/s Pak Matiari-Lahore Transmission Company (Private) Limited (PMLTC) has approached the Chinese embassy in Islamabad for help against delay in payment of foreign exchange by State Bank of Pakistan (SBP) meant to pay Sinosure fee. The Company’s CEO/ President, Zhang Lei, in a letter to Chinese embassy and concerned authorities of the government of … Read more

Foreign Exchange: Know the benefits of a forex card

During the selection process, keep an eye on the fees and charges as that could turn out to be a damper if one does not use the card carefully.

If you are looking to travel abroad, an important element of your travel plan should be to keep some foreign currency notes in your wallet. If carrying them is a concern, you can buy a forex card which is basically a prepaid card that can be loaded with one or more foreign currencies to make … Read more

ITC’s direct forex earnings jump 47 per cent at ₹9,779 crore in FY22

ITC’s direct forex earnings jump 47 per cent at ₹9,779 crore in FY22

Diversified conglomerate ITC Ltd clocked 47 per cent jump in direct foreign exchange earnings at ₹9,779 crore in FY22 compared with ₹4,600 crore in FY21, driven mainly by exports of agri-commodities and FMCG products, including foods and stationery products. Exports contributed to nearly 16 per cent of the company’s total turnover in FY22, up 11 … Read more

Even with floating forex system, taka devalued against US dollar again

Is Bangladesh's current $42bn forex reserve safe enough?

The move has essentially devalued the rate of taka against US dollar again, even with the reinstatement of floating foreign exchange rate. The central bank on Thursday reintroduced the floating foreign exchange for banks to set the US dollar rate based on demand and supply situations. Bangladesh adopted a floating exchange rate system in 2003 … Read more