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On 7 August 2009 the agency raided and closed all Zarco 727 exchange outlets in Pakistan. [2] Zarco Exchange CEO, Sayd Lakht-e-Hussnain denied being involved in any fraud and a complex legal dispute followed resulting in claim and counter claim of fraud and deception by the State Bank of Pakistan and Zarco and its management. [3] In 2009 it ...
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
The suspension order further stated that the company's headquarter, branch offices and/or franchise cannot carry any business dealings. [5] In August 2009, a second foreign exchange company in Pakistan Zarco Exchange was accused of similar allegations and also had its license revoked and forced to shut down.
The euro is a major global reserve currency, the second most widely held international reserve currency after the U.S. dollar. [59] Inheriting this status from the German mark , its share of international reserves has risen from 23.65% in 2002 to a peak of 27.66% in 2009 before declining due to the European debt crisis , with Russia and Eastern ...
For example, the purchasing power of the US dollar relative to that of the euro is the dollar price of a euro (dollars per euro) times the euro price of one unit of the market basket (euros/goods unit) divided by the dollar price of the market basket (dollars per goods unit), and hence is dimensionless. This is the exchange rate (expressed as ...
Thus, a U.S. dollar-denominated deposit in Tokyo or Beijing would likewise be deemed a Eurodollar deposit (sometimes an Asiadollar). More generally, the euro-prefix can be used to indicate any currency held in a country where it is not the official currency, broadly termed "eurocurrency", for example, Euroyen or even Euroeuro.
The Securities and Exchange Commission of Pakistan (SECP) (Urdu: سیکیورٹیز اینڈ ایکسچینج کمیشن آف پاکستان), formerly known as Company Law Administration, Company Law Board, and Corporate Law Authority, is the corporate legislative and financial regulatory agency of Pakistan whose objective is to develop a modern and efficient corporate sector and a capital ...
Currency quotations use the abbreviations for currencies that are prescribed by the International Organization for Standardization (ISO) in standard ISO 4217.The major currencies and their designation in the foreign exchange market are the US dollar (USD), Euro (EUR), Japanese yen (JPY), British pound (GBP), Australian dollar (AUD), Canadian dollar (CAD), and the Swiss franc (CHF).