ISLAMABAD – The country's central bank has received an amount of $2.3 billion as loan from China, Finance Minister Miftah Ismail announced on Friday.
Miftah took to Twitter to announce the receipt that is "increasing our foreign exchange reserves,"
I am pleased to announce that Chinese consortium loan of RMB 15 billion (roughly $2.3 billion) has been credited into SBP account today, increasing our foreign exchange reserves.
— Miftah Ismail (@MiftahIsmail) June 24, 2022
Earlier this week, the minister confirmed that the Chinese consortium of banks has signed the RMB 15 billion (~$2.3 billion) loan facility agreement after it was signed by the Pakistani side.
While thanking the Chinese government for facilitating this transaction, he had hoped of inflow within a couple of days.
The Chinese consortium of banks has today signed the RMB 15 billion (~$2.3 billion) loan facility agreement after it was signed by the Pakistani side yesterday. Inflow is expected within a couple of days. We thank the Chinese government for facilitating this transaction.
— Miftah Ismail (@MiftahIsmail) June 22, 2022
Soon after a broader agreement on budget 2022-23 between Pakistan and the IMF [International Monetary Fund], China made this loan facility available for Pakistan.
Pakistani currency remains unchanged against US Dollar and other currencies on April 26, 2024 Friday in open market.
US dollar was being quoted at 277.15 for buying and 280.15 for selling.
Euro comes down to 294 for buying and 297 for selling while British Pound hovers at 342.5 for buying, and 346 for selling.
UAE Dirham AED was at 74.95 and Saudi Riyal's new rate was at 73.30.
Currency | Symbol | Buying | Selling |
US Dollar | USD | 277.15 | 280.15 |
Euro | EUR | 294 | 297 |
UK Pound Sterling | GBP | 342.5 | 346 |
U.A.E Dirham | AED | 74.95 | 75.75 |
Saudi Riyal | SAR | 73.30 | 74 |
Australian Dollar | AUD | 178.5 | 180 |
Bahrain Dinar | BHD | 740.57 | 748.57 |
Canadian Dollar | CAD | 200.8 | 203 |
China Yuan | CNY | 38.45 | 38.85 |
Danish Krone | DKK | 39.93 | 40.33 |
Hong Kong Dollar | HKD | 35.55 | 35.9 |
Indian Rupee | INR | 3.34 | 3.45 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 903.61 | 912.61 |
Malaysian Ringgit | MYR | 58.28 | 58.88 |
New Zealand Dollar | NZD | 164.22 | 166.22 |
Norwegians Krone | NOK | 25.46 | 25.76 |
Omani Riyal | OMR | 723.48 | 731.48 |
Qatari Riyal | QAR | 76.52 | 77.22 |
Singapore Dollar | SGD | 204.5 | 206.5 |
Swedish Korona | SEK | 25.72 | 26.02 |
Swiss Franc | CHF | 305.43 | 307.93 |
Thai Bhat | THB | 7.51 | 7.66 |
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