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Pakistan repays $1billion against Eurobond, confirms State Bank

01:19 PM | 13 Apr, 2024
Pakistan repays $1billion against Eurobond, confirms State Bank
Source: File Photo

KARACHI – Pakistan has successfully repaid $1 billion international bond, State Bank said on Saturday, amidst signs of economic revival. 

The central bank issued a statement, saying the South Asian nation successfully executed the repayment of $1 billion on April 12, 2024.

State Bank said both principal and interest payment was made to the agent bank for distribution to bondholders.

The country's foreign exchange reserves stabilized lately, with State Bank reserves increasing by $19 million weekly to reach $8.04 billion.

Total liquid foreign reserves, including commercial banks, recovered to $13.38 billion, with commercial banks holding $5.34 billion in net reserves.

After payment for international bonds, SBP-held reserves are expected to move down to around $7 billion, but Islamabad is looking for IMF funds.

The country reached a staff-level agreement on the final review of the $3 billion Stand-By Arrangement (SBA) with the IMF. The Executive Board of global lender is set to meet in late April to approve the disbursement of around $1.1 billion (SDR 828 million) as the final tranche of the SBA.

IMF chief Kristalina Georgieva noted that Pakistan is successfully completing its current program with the IMF, with the economy showing some improvement and reserves being rebuilt. However, she highlighted ongoing challenges, such as expanding the tax base, increasing contributions from the wealthier segments of society, improving public spending, and enhancing transparency.

Daily Pakistan Global Web Desk

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Today Open Market Currency Rates in Pakistan - Rupee to US Dollar, Euro, Pound, Riyal - 21 May 2024

Pakistani currency rates against US Dollar and other currencies on May 21, 2024 (Tuesday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.7 for buying and 280.35 for selling.

Euro moved up to 298 for buying and 301 for selling while British Pound rate is 350.5 for buying, and 354 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 21 May 2024

Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 298 301
UK Pound Sterling GBP 350.5 354
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 183 184.80
Bahrain Dinar BHD 739 747.8
Canadian Dollar CAD 203 205
China Yuan CNY 38.51 38.89
Danish Krone DKK 40.53 40.65
Hong Kong Dollar HKD 35.65 36.31
Indian Rupee INR 3.34 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegian Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Baht THB 7.57 7.72

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