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In late January, Pakistan lifted the artificial cap on its currency, causing the rupee to plunge 20% against the dollar in a few days. The government raised fuel prices by 16%. And the Pakistani central bank raised its interest rate by 100 basis points to battle the country's highest inflation in decades, expected to be as high as 26% in ...
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Canada and Pakistan established diplomatic relations in 1947. Canada is primarily represented in Pakistan by a high commission in Islamabad while maintaining consulates in Lahore and Karachi, as well as a trade office in the latter city. Pakistan is represented in Canada by a high commission in Ottawa and consulates in Toronto, Vancouver and ...
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The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.