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NBP to extend operations to CARs

KARACHI: The National Bank of Pakistan is set to extend its operations to the Central Asian Republic states, an official confirmed here on Saturday.

"A branch of the National Bank has already been made operational in Turkmenistan," the official said. "The bank has acquired the licence for opening its branches in Kyrghyzstan and Kazakhstan," and had applied for the licence to open its branches in Uzbekistan and Tajikistan.

The currency of Turkmenistan is manat and its official exchange rate is 5,200 manat for one US dollar, whereas one US dollar equals to 17,000 manat in the open market, the official said.-Internews