ISLAMABAD – The dwindling foreign exchange reserves of crisis hit Pakistan are set to get another boost as the State Bank of Pakistan (SBP) received $500 million approved by the Chinese Bank.
Finance Minister Ishaq Dar confirmed late Friday that State Bank of Pakistan has received in its account from Chinese Bank ICBC US Dollars 500 million which will shore up forex reserves.
The second tranche of $500m for Islamabad was part of a $1.3b rollover facility from China's ICBC, documentation for which was completed earlier this week.
State Bank of Pakistan has received today in its account from Chinese Bank ICBC US $ 500 million. It will shore up forex reserves of Pakistan.
— Ishaq Dar (@MIshaqDar50) March 17, 2023
AlhamdoLilah! https://t.co/dIHmfBLlvD
State Bank of Pakistan earlier received the first $500m installment from Beijing earlier this month from Pakistan’s all-weather friend.
As always, Beijing remained on the front line with Pakistan in hard times as the revival of the IMF loan program for Pakistan extended, as the financial organization sought a written assurance of financing from friendly countries before releasing funds.
Pakistani rupee saw marginal improvement against US dollar as it appreciated in the open bank market.
On Thursday, the US dollar moved up and was being quoted at 285.3 for buying and 288.15 for selling.
Euro moves down to 311 for buying and 314 for selling. British Pound rate stands at 358.5 for buying, and 361.5 for selling.
UAE Dirham AED stands at 78 whereas the Saudi Riyal rate stands at 76.20.
Currency | Symbol | Buying | Selling |
US Dollar | USD | 285.3 | 288.15 |
Euro | EUR | 311 | 314 |
UK Pound Sterling | GBP | 358.5 | 361.5 |
U.A.E Dirham | AED | 78 | 78.7 |
Saudi Riyal | SAR | 76.2 | 77 |
Australian Dollar | AUD | 187.2 | 189 |
Bahrain Dinar | BHD | 759.67 | 767.67 |
Canadian Dollar | CAD | 209 | 211 |
China Yuan | CNY | 39.58 | 39.98 |
Danish Krone | DKK | 41.38 | 41.78 |
Hong Kong Dollar | HKD | 36.63 | 36.98 |
Indian Rupee | INR | 3.39 | 3.5 |
Japanese Yen | JPY | 1.49 | 1.56 |
Kuwaiti Dinar | KWD | 926.7 | 935.7 |
Malaysian Ringgit | MYR | 60.38 | 60.98 |
New Zealand Dollar | NZD | 173.44 | 175.44 |
Norwegians Krone | NOK | 26.25 | 26.55 |
Omani Riyal | OMR | 741.26 | 749.26 |
Qatari Riyal | QAR | 77.63 | 78.33 |
Singapore Dollar | SGD | 211 | 213 |
Swedish Korona | SEK | 26.93 | 27.23 |
Swiss Franc | CHF | 325.9 | 328.4 |
Thai Bhat | THB | 8.23 | 8.38 |
KARACHI – The gold price continues to climb up in the local market in line of upward trend in international market.
On Thursday, the single tola of 24 Karat gold was available at Rs218,600, and the price for 10-gram gold reached Rs187,420.
Meanwhile, the 22 Karat Gold price stands at Rs200,380, 21 karat rate for each tola is Rs191,275 and 18k gold rate hoveres around Rs163,950.
In international market, the price of precious metal hovers around $2,045 per ounce.
City | Gold | Silver |
Lahore | PKR 218,600 | PKR 2,675 |
Karachi | PKR 218,600 | PKR 2,675 |
Islamabad | PKR 218,600 | PKR 2,675 |
Peshawar | PKR 218,600 | PKR 2,675 |
Quetta | PKR 218,600 | PKR 2,675 |
Sialkot | PKR 218,600 | PKR 2,675 |
Attock | PKR 218,600 | PKR 2,675 |
Gujranwala | PKR 218,600 | PKR 2,675 |
Jehlum | PKR 218,600 | PKR 2,675 |
Multan | PKR 218,600 | PKR 2,675 |
Bahawalpur | PKR 218,600 | PKR 2,675 |
Gujrat | PKR 218,600 | PKR 2,675 |
Nawabshah | PKR 218,600 | PKR 2,675 |
Chakwal | PKR 218,600 | PKR 2,675 |
Hyderabad | PKR 218,600 | PKR 2,675 |
Nowshehra | PKR 218,600 | PKR 2,675 |
Sargodha | PKR 218,600 | PKR 2,675 |
Faisalabad | PKR 218,600 | PKR 2,675 |
Mirpur | PKR 218,600 | PKR 2,675 |
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