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Potential IMF program for Pakistan to be around $15bn: IIF report

Usman Arshad 02:10 PM | 14 Oct, 2018
Potential IMF program for Pakistan to be around $15bn: IIF report
ISLAMABAD - A potential International Monetary Fund program for Pakistan could be valued at $15 billion, the Institute of International Finance (IIF) said in a report.

According to the report, IIF expects an agreement on a three-year IMF program of $15 billion by end of this year.

https://twitter.com/IIF/status/1050721557553799168?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed&ref_url=https%3A%2F%2Fwww.geo.tv%2Flatest%2F214689-potential-imf-program-for-pakistan-to-be-around-15bn-iif

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The rupee’s 24% depreciation since end of 2017 may have eliminated most of the overvaluation, the institute stated.

https://twitter.com/IIF/status/1050766882050052096

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Fiscal adjustment, monetary tightening, and a greater exchange rate flexibility will be integral to the new program, it said.

Finance Minis­ter Asad Umar on Saturday said the government will have to take difficult decisions that would be painful for people but necessary under international commitments to get out of the current severe economic situation.

Pakistan formally requested IMF for financial assistance at a meeting of the IMF-World Bank in Bali, Indonesia earlier this week. IMF chief Christine Lagarde said in a statement that she met with Finance Minister Asad Umar, State Bank Governor Tariq Bajwa and other members of Pakistan’s delegation.

"During the meeting, they requested financial assistance from the IMF to help address Pakistan’s economic challenges," Lagarde said.

 

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on June 7, 2023

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 June 07, 2023 (Wednesday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 302.9 306.15
Euro EUR 321 324
UK Pound Sterling GBP 376 380
U.A.E Dirham AED 83 84
Saudi Riyal SAR 79.2 81
Australian Dollar AUD 202 204
Bahrain Dinar BHD 759.46 767.46
Canadian Dollar CAD 227 230
China Yuan CNY 40.28 40.68
Danish Krone DKK 41.09 41.49
Hong Kong Dollar HKD 36.4 36.75
Indian Rupee INR 3.46 3.57
Japanese Yen JPY 1.98 2.06
Kuwaiti Dinar KWD 928.09 937.09
Malaysian Ringgit MYR 61.94 62.54
New Zealand Dollar NZD 173.16 175.16
Norwegians Krone NOK 25.88 26.18
Omani Riyal OMR 742.38 750.38
Qatari Riyal ‎QAR 78.38 79.08
Singapore Dollar SGD 222.5 225
Swedish Korona SEK 26.36 26.65
Swiss Franc CHF 313.87 316.35
Thai Bhat THB 8.21 8.36

Today's gold rates in Pakistan | gold price in Pakistan – June 7, 2023

Gold Rate Today:

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 226,100 on Wednesday. The price of 10 grams of 24k gold was recorded at Rs193,850.   

Likewise, 10 grams of 22k gold were being traded for Rs 177,695 while a single tola of 22-karat gold was being sold at Rs 207, 257.

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.

Gold Price in Pakistan: Lahore, Karachi, Islamabad

City Gold Silver
Lahore PKR 226,100 PKR 2125
Karachi PKR 226,100 PKR 2125
Islamabad PKR 226,100 PKR 2125
Peshawar PKR 226,100 PKR 2125
Quetta PKR 226,100 PKR 2125
Sialkot PKR 226,100 PKR 2125
Attock PKR 226,100 PKR 2125
Gujranwala PKR 226,100 PKR 2125
Jehlum PKR 226,100 PKR 2125
Multan PKR 226,100 PKR 2125
Bahawalpur PKR 226,100 PKR 2125
Gujrat PKR 226,100 PKR 2125
Nawabshah PKR 226,100 PKR 2125
Chakwal PKR 226,100 PKR 2125
Hyderabad PKR 226,100 PKR 2125
Nowshehra PKR 226,100 PKR 2125
Sargodha PKR 226,100 PKR 2125
Faisalabad PKR 226,100 PKR 2125
Mirpur PKR 226,100 PKR 2125

Daily Pakistan diligently monitors and updates the current gold rates in Pakistan on a daily basis

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