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Hold or remit? Pakistani rupee hits a one-year high Waheed Abbas/Dubai Photo: AFP Higher foreign remittances and exports receipts support the south Asian currency, experts say Pakistani rupee rose to a year high on Tuesday on the back of higher inflow of foreign currencies. The rupee strengthened to 156.7 versus the US dollar (42.68 against the UAE dirham) on Tuesday, hitting the same level as March 15, 2020. The strengthening of the south Asian currency is attributed to strong flows of remittances as well as improved export receipts, helping the foreign currency reserves to stay stable at $20.2 billion (b). In February, workers’ remittances remained above $2b for the ninth consecutive month. Workers’ remittances amounted to $2.266b in February 2021, around the same level as the previous month and 24.2 per cent higher than in February 2020, the State Bank of Pakistan said. ....
Time to remit: Pakistan rupee hits 3-month high, set to rise further Waheed Abbas/Dubai Photo: AFP In addition to strong inflows of foreign funds and remittances, good progress made on the Financial Action Task Force also supported the rupee. Pakistani rupee hit a three-month high against the UAE dirham on Monday and is likely to strengthen further in the coming days, as dollar inflows into the country stay strong, thanks to remittances from Pakistani expatriates and foreign fund inflows. ALSO READ: The rupee strengthened to 43.02 versus the dirham on Monday, its highest level since November 17, 2020 when it hit 43.04. In addition to strong inflows of foreign funds and remittances, good progress made on the Financial Action Task Force (FATF) also supported the rupee. Under the FATF, though Pakistan had been retained in the grey list till June, it made good progress, achieving a compliance level of 24 targets out of a 27-point action plan. ....
Nizwani Shahar, chief executive of Ogilvy Malaysia said: “Colgate-Palmolive carries some of the most iconic brands that can be found in almost every household across the globe. We are so proud to be able to work with these brands alongside the Colgate-Palmolive team who have shown they are willing to take calculated risks to make their brands matter. KUALA LUMPUR: Following a successful partnership with Ogilvy Malaysia on the back of its inspirational “Smile Strong Bersama” campaign in 2020, Colgate-Palmolive has extended its remit with the agency. The appointment will see Ogilvy undertake strategic and creative communications, digital, and social media duties throughout 2021 across all Colgate-Palmolive’s business including its oral care and home care brands such as Colgate, Softlan, and Elmex. ....