DACCA: A Council of Ministers, drawn from different political parties, including one MNA-elect from the defunct Awami League, was sworn in by the East Pakistan Governor, Dr. A.M. Malik ... this afternoon [Sept 17]. Out of the ten members appointed to the Council of Ministers, nine were administered oath of office and secrecy by Governor Malik while one member ... could not reach Dacca in time. He will be sworn in later. … The Ministers were likely to be assigned their respective portfolios by tomorrow....

[Meanwhile, as reported by the newspaper’s staff correspondent in Karachi] The State Bank of Pakistan ... fixed the rupee-dollar exchange rate at Rs4.7619 to one US dollar for its business transactions with authorised foreign exchange dealers.... The fixation of rates followed the decision on Thursday [Sept 16] by the State Bank to de-link the rupee currency from pound-sterling and its alignment with the US dollar....

The spot buying rate per US dollar will be Rs. 4.7619 and forward buying rate up to six months have been fixed at Rs. 4.7619. The spot selling rate per US dollar has been fixed at Rs. 4.7775 and forward selling rate up to six months at Rs. 4.7932.

Published in Dawn, September 18th, 2021