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SBP governor confident of $1bn Sukuk repayment before due date

02:44 PM | 26 Nov, 2022
SBP governor confident of $1bn Sukuk repayment before due date
Source: social media

ISLAMABAD – Pakistan will repay the $1 billion international bond before its due date, the State Bank of Pakistan (SBP) Governor Jameel Ahmad said Friday.

The SBP chief cleared the air amid growing uncertainty about the ability of cash-strapped country to meet external financing obligations amid a widening economic crisis.

“The repayment would be made on December 2, 2022, three days ahead the maturity of the debt instrument on December 5, 2022,” the chief of the country’s central bank was quoted as saying. He affirmed that the reserves will not take a hit from the repayment and will remain immune.

The central bank governor further assured that funding has been lined up from multilateral sources to avoid repayment delay. An immediate inflow of $500 million was expected next week from the Asian Infrastructure Investment Bank, he added.

Lately, the reserves of South Asian country have plunged to a critically low level, and the current forex position is hardly sufficient for one and half month import cover.

The top government officials also expressed hope as depletion made lenders and investors worried about their receivables. International Monetary Fund also announced that country's timely finalisation of a recovery plan from devastating floods is crucial for continued financial support. 

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - PKR to US Dollar, Euro, Pound, Dirham, and Riyal - 21 April 2024

Pakistani currency remains unchanged against US Dollar and other currencies on April 21, 2024. US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro stands at 293 for buying and 296 for selling while British Pound hovers at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.20 and Saudi Riyal's new rate was at 73.30. 

Today’s currency exchange rates in Pakistan - 21 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 293 296
UK Pound Sterling GBP 342.5 346
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.55 748.55
Canadian Dollar CAD 201 203
China Yuan CNY 38.47 38.87
Danish Krone DKK 39.78 40.18
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.11 912.11
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.61 25.91
Omani Riyal OMR 723.2 731.2
Qatari Riyal QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.47 307.97
Thai Bhat THB 7.56 7.71

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