KARACHI – Pakistan and the Asian Infrastructure Investment Bank (AIIB) have signed an agreement for $500 million loan that will provide a breathing room to under-pressure economy of the South Asian country.
The AIIB is providing the loan under the Building Resilience with Active Countercyclical Expenditures (BRACE) programme, which is an Asian Development Bank (ADB) financing initiative to enhance the resilience of poor and vulnerable groups to socio-economic shocks.
“The agreement was signed from the AIIB side by Konstantin Likitovskiy, Vice President Investment Operations, and Awais Manzoor Sumra, special secretary finances from the Pakistani side,” the finance ministry said in a statement on Twitter.
It added, “signing took place during COP27 meetings in Sharm El-Sheikh in Egypt and was witnessed by Minister for Climate Change.”
Earlier this week, Finance Minister Ishaq Dar revealed that the AIIB board had approved the $500 million loan program for Pakistan.
“Board of Asian Infrastructure Investment Bank (AIIB) has today approved $500 million as co-financing of Asian Development Bank-funded BRACE program for Pakistan,” Dar said in a Twitter post.
“These Funds will be received by State Bank of Pakistan within November 2022,” he announced.
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 4, 2023 (Saturday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency | Symbol | Buying | Selling |
US Dollar | USD | 279.9 | 283.2 |
Euro | EUR | 300.98 | 301.58 |
UK Pound Sterling | GBP | 337.01 | 337.71 |
U.A.E Dirham | AED | 75.14 | 75.44 |
Saudi Riyal | SAR | 73.55 | 73.85 |
Australian Dollar | AUD | 189 | 192 |
Bahrain Dinar | BHD | 712.72 | 720.69 |
Canadian Dollar | CAD | 200 | 202.2 |
China Yuan | CNY | 39.67 | 39.73 |
Danish Krone | DKK | 39.33 | 39.73 |
Hong Kong Dollar | HKD | 34.19 | 34.54 |
Indian Rupee | INR | 3.28 | 3.39 |
Japanese Yen | JPY | 2.5 | 2.54 |
Kuwaiti Dinar | KWD | 878 | 887 |
Malaysian Ringgit | MYR | 62.83 | 63.43 |
New Zealand Dollar | NZD | 173.25 | 175.25 |
Norwegians Krone | NOK | 26.79 | 27.09 |
Omani Riyal | OMR | 696.08 | 704.08 |
Qatari Riyal | QAR | 73.62 | 74.32 |
Singapore Dollar | SGD | 204 | 206 |
Swedish Korona | SEK | 25.61 | 25.91 |
Swiss Franc | CHF | 291.69 | 294.19 |
Thai Bhat | THB | 8.15 | 8.30 |
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 205,200 on Saturday. The price of 10 grams of 24k gold was recorded at Rs175,930.
Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
City | Gold | Silver |
Lahore | PKR 205,200 | PKR 2,430 |
Karachi | PKR 205,200 | PKR 2,430 |
Islamabad | PKR 205,200 | PKR 2,430 |
Peshawar | PKR 205,200 | PKR 2,430 |
Quetta | PKR 205,200 | PKR 2,430 |
Sialkot | PKR 205,200 | PKR 2,430 |
Attock | PKR 205,200 | PKR 2,430 |
Gujranwala | PKR 205,200 | PKR 2,430 |
Jehlum | PKR 205,200 | PKR 2,430 |
Multan | PKR 205,200 | PKR 2,430 |
Bahawalpur | PKR 205,200 | PKR 2,430 |
Gujrat | PKR 205,200 | PKR 2,430 |
Nawabshah | PKR 205,200 | PKR 2,430 |
Chakwal | PKR 205,200 | PKR 2,430 |
Hyderabad | PKR 205,200 | PKR 2,430 |
Nowshehra | PKR 205,200 | PKR 2,430 |
Sargodha | PKR 205,200 | PKR 2,430 |
Faisalabad | PKR 205,200 | PKR 2,430 |
Mirpur | PKR 205,200 | PKR 2,430 |
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