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Pakistan to make $1 billion bond payments on time, says Dar while rejecting default rumours

10:07 AM | 20 Nov, 2022
Pakistan to make $1 billion bond payments on time, says Dar while rejecting default rumours
Source: Radio Pakistan

ISLAMABAD – Finance Minister Ishaq Dar has categorically rejected rumours that the country would be unable to make payment of $1 billion against Sukuk bonds which will mature in next month (December).

In a televised address, Dar stated that Pakistan will not default and will meet its upcoming bond payments, adding:  “We will not even be close to default”.

His remarks come after an independent brokerage house, Arif Habib Limited, said that Pakistan’s perceived risk of default has surged to 79.33 percent from previous 75.50%. It said that ongoing political turmoil and uncertainities surrounding the ninth review of an IMF bailout package has triggered the risk.

The finance minister said that Pakistan had never defaulted on its international payments, adding that the bonds, which are maturing on fifth of December, will be paid on time.

He said rumors are being spread for political purpose and these people should refrain from speculations and irresponsible statements.

Talking about the fuel reserves in the country, he said Pakistan has no shortage of petrol and diesel and speculations on the issue are baseless.

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Currency Rates Today - Pakistani Rupee to US Dollar, Euro, Pound, Dirham, Riyal - 14 July 2024

Pakistani currency rates against US Dollar and other currencies on July 14, 2024 (Sunday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.8 for buying and 280.75 for selling. Euro's buying rate moves up to 301.25 and selling rate is 303.15.

British Pound rate is 355.15 for buying, and 358.65 for selling. UAE Dirham AED was at 76.5 and Saudi Riyal lowered to 73.65.

Currency Rates Today

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.8 280.75
Euro EUR 301.25  303.15
UK Pound Sterling GBP 355.15 358.65
U.A.E Dirham AED 76.5 77.25
Saudi Riyal SAR 73.65 74.37
Australian Dollar AUD 184.55 186.35
Bahrain Dinar BHD 741 749
Canadian Dollar CAD 203.75 205.75
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.33 3.43
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 309.15 311.65
Thai Bhat THB 7.5 7.65

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