rupee
Market

Rupee stable against dollar

KARACHI: The rupee remained stable against the dollar at 105.35/105.55 in the inter-bank market compared to yesterday’s close of 105.35/105.55.

The currency market has fluctuated regularly in recent months with hefty rises and falls on some occasions. In the long run, however, the rupee has stood firm after experiencing extensive volatility, when it weakened from around Rs98 to a dollar to above Rs103 in the wake of political impasse over alleged election rigging.

The central bank has imposed 100% cash margin on the import of certain consumer goods to restrict the demand for US dollars. The rupee has been one of the best performing currencies in Asia for over three years despite the dollar’s sharp appreciation against other currencies.

However, the International Monetary Fund has repeatedly said that Pakistan’s rupee is overvalued by 5-20%. According to analysts, the artificial support for the rupee has adversely affected Pakistan’s exports.

CCRI advises farmers to pick clean cotton

MULTAN:  Central Cotton Research Institute (CCRI) Director Dr Zahid Mahmood advised farmers to pick clean cotton and keep it free from contamination during transportation to ginning factories to attract premium price from the market.

In a statement issued by the CCRI Multan spokesman, he said farmers should begin picking cotton when at least 50 per cent bolls were open and avoid picking in the presence of moisture in the cotton flower inside bolls.

Cotton from bolls affected by pink bollworm or diseases should be picked and kept separately. Half open bolls should not undergo picking process and farmers should begin picking at around 10am in the morning when cotton is dry after moisture is evaporated.

Farmers should avoid picking wet cotton as its colour changes during storage and its seed (Binola) can not be utilized to manufacture Ghee.

Farmers should maintain an interval of fifteen to twenty days between two pickings and avoid plucking leaf, other parts of plants and incomplete bolls.