Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Pakistan bought Russian grain for UAE dirhams for the first time


December, 20 2023
watermark Economic news

According to government data, in November, for the first time, Pakistan paid for the supply of Russian grain in dirhams of the UAE, which became a significant event in bilateral grain trade.


Imports of agricultural products from Russia reached a record 1.4 million tons for the current year, which significantly exceeds last year's volumes (294 thousand tons).


In particular, in November, Pakistan imported 377.2 thousand tons of wheat from Russia in the amount of 10.6 billion rubles. It is noted that 82% of this amount was paid in UAE dirhams, which was the first time that Russian wheat supplies were paid in this currency.


This fact indicates the growth of trade relations between Russia and Pakistan in the field of agriculture and underlines the growing demand of Pakistan for Russian agricultural products. Earlier in September, Russia supplied oil for the first time in Chinese yuan, and during the year the country exported coal for dirhams.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.