Her departure allows the IMF board to begin the search for her replacement.
"With greater clarity now on the process for my nomination as ECB President and the time it will take, I have made this decision in the best interest of the fund, as it will expedite the selection process for my successor," Lagarde said.
EU leaders early this month picked Lagarde to succeed ECB chief Mario Draghi, whose single, eight-year term ends in November.
Lagarde stepped away from the IMF leadership post she has held since 2011, sparking a wave of speculation about who would replace her.
The IMF board tapped her number two, American David Lipton, to serve as interim managing director, but by tradition, a European always leads the fund while an American runs its sister institution, the World Bank.
"With this decision by Managing Director Lagarde, the IMF Executive Board will initiate promptly the process of selecting the next managing director and will communicate in a timely fashion," the IMF board said in a statement.
Early candidates mentioned as possible successors to Lagarde include Mark Carney, a Canadian who also holds British and Irish citizenship.
Associated Press of Pakistan Corporation (APPC) - Pakistan's Premier News Agency
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 10, 2023 (Saturday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||372||376|
|Hong Kong Dollar||HKD||36.55||36.9|
|New Zealand Dollar||NZD||174.18||176.19|
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 228,450 on Saturday. The price of 10 grams of 24k gold was recorded at Rs195,860.
Likewise, 10 grams of 22k gold were being traded for Rs178,593 while a single tola of 22-karat gold was being sold at Rs 208,311.
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.
|Lahore||PKR 228,450||PKR 2,605|
|Karachi||PKR 228,450||PKR 2,605|
|Islamabad||PKR 228,450||PKR 2,605|
|Peshawar||PKR 228,450||PKR 2,605|
|Quetta||PKR 228,450||PKR 2,605|
|Sialkot||PKR 228,450||PKR 2,605|
|Attock||PKR 228,450||PKR 2,605|
|Gujranwala||PKR 228,450||PKR 2,605|
|Jehlum||PKR 228,450||PKR 2,605|
|Multan||PKR 228,450||PKR 2,605|
|Bahawalpur||PKR 228,450||PKR 2,605|
|Gujrat||PKR 228,450||PKR 2,605|
|Nawabshah||PKR 228,450||PKR 2,605|
|Chakwal||PKR 228,450||PKR 2,605|
|Hyderabad||PKR 228,450||PKR 2,605|
|Nowshehra||PKR 228,450||PKR 2,605|
|Sargodha||PKR 228,450||PKR 2,605|
|Faisalabad||PKR 228,450||PKR 2,605|
|Mirpur||PKR 228,450||PKR 2,605|
Daily Pakistan diligently monitors and updates the current gold rates in Pakistan on a daily basis
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