Home / currency / The Chronicle declare : Firms queue for a month to access foreign currency

The Chronicle declare : Firms queue for a month to access foreign currency

collected by :Donald Luther

as declared in

The tobacco season is a major generator of foreign currency because foreign currency inflows will increase into the country.
The bank has a provision that when a company exports it surrenders 50 percent of the foreign currency to the bank.
This can take you up to a month while you need the foreign currency as much as those companies given first preference.
The challenge now is there are guidelines that have been set up by the central bank to provide the much needed foreign currency for imports.
AM: You are suggesting that the major challenge is queuing for foreign currency.

as mentioned in

COPENHAGEN, March 20 Denmark will on Monday repay its last loan in foreign currency, 1.5 billion dollars, and thus for the first time in at least 183 years it has no foreign currency loans, the central bank said.
The repayment of the last foreign currency loan does not mean that the Danish central government has no debt.
At the end of 2016, the Danish central-government domestic debt amounted to 635 billion crowns ($92 billion).
($1 = 6.8984 Danish crowns) (Reporting by Teis Jensen, editing by Jussi Rosendahl)
Denmark issues bonds in crowns to cover its deficit and redemptions of domestic bonds.

Denmark without foreign currency loans for the first time in 183 yrs

as mentioned in

Local, foreign currency seized

The raiding team, he said, has also seized USBs, receipts/ ledgers regarding hawala etc from the premises.
The raiding team was led by Jamil Ahmad Mayo, deputy director, FIA Corporate Crime Circle, Lahore.
LAHOREUnder the instructions of FIA Punjab Director Dr Usman Anwar, a team of FIA on Sunday raided a foreign currency exchange business at Anarkali, Lahore and arrested six persons allegedly involved in hundi/hawala business.
Similarly, PHP teams arrested three persons and recovered stolen wood and two gas cylinders from their possession.
PHP teams arrested seven accused and recovered five pistols, three rifles and a dagger from their possession.

Local, foreign currency seized

read more
visit us
currency

Check Also

Is China continue keen to develop a sovereign digital currency after block on bitcoin trading? picture-13763-310x165

Is China continue keen to develop a sovereign digital currency after block on bitcoin trading?

Despite showing a tough face to bitcoin in China, Beijing’s interest in grasping the underlying …