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IMF looking forward to continue dialogue on ninth review after 'productive talks’ with Pakistan

10:44 AM | 14 Dec, 2022
IMF looking forward to continue dialogue on ninth review after 'productive talks’ with Pakistan
Source: File Photo

ISLAMABAD – International Monetary Fund is looking forward to continuing the dialogue on the ninth review on Extended Arrangement after productive talks with the Sharif-led government.

IMF Resident Representative in Pakistan Esther Pérez Ruiz said discussions have enabled a revision to the macroeconomic outlook after the floods as well as an in-depth evaluation of fiscal, monetary, exchange rate, and energy policies adopted since the completion of the combined seventh and eighth reviews.

The global lender also mentioned continuing dialogue over humanitarian and rehabilitation policies post-2022 floods, while preserving fiscal and external sustainability given available financing, per reports.

IMF’s review for the release of the next funds has been pending for the last three months, forcing the cash-strapped country to approach friendly nations and other lenders.

Pakistan on the other hand is still committed to completing the IMF programme while meeting external debt repayments on time, Finance Minister Dar said last week, who revealed that all targets for the ninth review had been completed.

The finance chief called on Washington-based lender to complete the review as foreign exchange reserves held by State Bank dropped to their lowest level in the last three years, which directly put pressure on the Pakistani currency.

Daily Pakistan Global Web Desk

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PKR exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 21 Feb 2024

Pakistani currency remains stable against US dollar and other currencies in the open market on February 21, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300 for buying and 303 for selling while British Pound rate stands at 350.5 for buying, and 354 for selling.

UAE Dirham AED hovers at 76.15 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

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

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300 303
UK Pound Sterling GBP 350.5 354
U.A.E Dirham AED 76.15 76.9
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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