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Pakistan’s circulating currency doubles within 5 years

Currency, NewsBy SMI 05/02/2015

According to a report by online news source the Pakistan Tribe, Pakistan’s currency in circulation increased from Rs 1,224 billion to Rs 2,500 billion between 2009 and 2014, an increase of 104%. The State Bank of Pakistan’s (SBP) Deputy Governor of Operations, Mr Kazi Abdul Maktadir, discussed Pakistan’s rising currency in circulation during the Conference…

Lithuania joins the euro

Banknotes, Coin, Currency, NewsBy SMI 02/01/2015

The new year brings a new currency for Lithuanians, as, on the 1st January 2015, Lithuania became the 19th member of the euro currency area, replacing the previous Lithuanian litas currency to the Euro at an exchange rate of €1= LTL 3.45280. Lithuanians have 2 weeks to continue paying for items using Lithuanian litas, but…

East Africa Votes for Single Currency

Currency, NewsBy SMI 03/12/2013

On Saturday 30 November 2013, East African Community leaders signed the Monetary Union Protocol, with the intention to have a single currency in 10 years’ time. The signing ceremony, held in Uganda, was witnessed by Members of the East Africa Legislative Assembly (EALA), diplomats and high ranking government officials of member states. Kenya’s President Uhuru…

Euro currency stability questioned again

Currency, NewsBy SMI 18/04/2012

As the markets have calmed over the past months, the rumours of a collapsing Euro became only whispers. However the Euro once again appears to become more fragile, with recent turmoil in the Spanish markets and money being moved across borders in all regions. Despite the markets calming, the trend over the past few months…