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Pakistan, IMF start policy-level talks today for second tranche of bailout funds

09:22 AM | 13 Nov, 2023
Pakistan, IMF start policy-level talks today for second tranche of bailout funds

ISLAMABAD – Pakistan and the International Monetary Fund (IMF) will initiate the negotiations from Monday (November 13) to finalise the second tranche of stand-by agreement.

The mission of the global lender has been in crisis hit nation for the last 10 days. In the first phase, the IMF and the interim government held technical talks.

During the policy talks, the US-based lender will push Pakistan for more regulations.

Reports in local media suggest that IMF’s point of view on foreign exchange rate will also revealed and the monetary fund is likely to raise questions on foreign financing needs.

Earlier, the visiting delegation expressed satisfaction with the measures taken by Pakistani government to restrict the smuggling and hoarding of foreign currency, especially USD.

IMF delegation also held talks with Pakistani officials to review issues related to exchange rate management of the Pakistani Rupee against the US dollar.

Finance Division, apprised IMF of measures taken to curb smuggling and hoarding of US dollars and action against organized groups involved in these activities.

The South Asian nation reportedly decided to share tax evaders details with IMF and FBR, banks and NADRA, which will take further steps to garner more funds.

Daily Pakistan Global Web Desk

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 28 Feb 2024

Pakistani currency remains momentum against US dollar in the open market on February 28, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar moves up and currently hovers at 282 for buying and 282.25 for selling.

Euro currently stands at 303.1 for buying and 306.1 for selling while British Pound rate stands at 351.6 for buying, and 355.1 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.25.

Today’s currency exchange rates in Pakistan - 28 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 282 282.25
Euro EUR 303.1 306.1
UK Pound Sterling GBP 351.6 355.1
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.25 75.05
Australian Dollar AUD 181.1 183.1
Bahrain Dinar BHD 742.91 750.91
Canadian Dollar CAD 207.1 209.1
China Yuan CNY 38.87 39.27
Danish Krone DKK 40.61 41
Hong Kong Dollar HKD 35.75 36.1
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 905.46 914.46
Malaysian Ringgit MYR 58.5 59.1
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.41 26.71
Omani Riyal OMR 725.54 733.54
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207.15 209.15
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317 319.5
Thai Bhat THB 7.76 7.91

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