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Pakistan to announce new monetary policy on Dec 12 ahead of IMF loan review meeting

12:02 PM | 9 Dec, 2023
Pakistan to announce new monetary policy on Dec 12 ahead of IMF loan review meeting
Source: File Photo

KARACHI – State Bank of Pakistan (SBP) will meet on December 12 (Tuesday) to review about the Monetary Policy.

A press release said the central bank will issue Monetary Policy Statement after the conclusion of the last MPC meeting of 2023.

It was reported that the central bank will keep policy rate unchanged or might lower the interest rate.

The development comes ahead of International Monetary Fund - IMF executive board meeting in which the global lender will consider final approval to disburse the next $700 million tranche from its current loan program.

Lately, Pakistan witnessed several positive developments including the strengthening of local currency against the dollar and slight drop in inflation besides record high stock market.

As of now, the mark-up rate in Pakistan is currently at 22 percent which is already high as compared to other nations.

Daily Pakistan Global Web Desk

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Open-market: Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 19 Feb 2024

Pakistani currency remains stable against US dollar and other currencies in the open market on February 19, 2024. 

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.05 for buying and 282.1 for selling.

On Monday, Euro stands at 301 for buying and 304 for selling while British Pound rate stands at 352.4 for buying, and 355.4 for selling.

UAE Dirham AED hovers at 76.55 whereas the Saudi Riyal saw slight increase, with new rates at 74.2.

Today’s currency exchange rates in Pakistan - 19 February 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.05 282.1
Euro EUR 301 304
UK Pound Sterling GBP 352.4 355.4
U.A.E Dirham AED 76.55 77.25
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 180 182
Bahrain Dinar BHD 743.12 751.12
Canadian Dollar CAD 206.5 208.5
China Yuan CNY 38.84 39.24
Danish Krone DKK 40.24 40.64
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.48 3.59
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 906.33 915.33
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 170.1 172.1
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.75 733.75
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.85 27.15
Swiss Franc CHF 315.64 318.14
Thai Bhat THB 7.93 8.08

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