VALUE OF RUPEES
India And Pakistan
(N.Z.P.A.-Reuter—Copyright) RAWALPINDI, June 6. Pakistan will not devalue her currency in line with the devaluation of the Indian rupee, the Finance Minister, Mr Mohamed Shoaib, announced today after an emergency Cabinet meeting. But he told the National Assembly that the effects on the Pakistan rupee of India’s devaluation needed careful appraisal. The Indian rupee was devalued yesterday by 36.5 per cent, pegging it at 21 to the £. The old official rate was 13.33. Mr Shoaib said the Pakistan rupee would remain at 13.33 to the £. ’ The situation today was different from the last Indian devaluation in 1949, which Pakistan followed a short time later, he said.
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Press, Volume CVI, Issue 31079, 7 June 1966, Page 14
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112VALUE OF RUPEES Press, Volume CVI, Issue 31079, 7 June 1966, Page 14
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