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Pakistan gets $132 million debt relief from US amid flood crisis

05:19 PM | 30 Sep, 2022
Pakistan gets $132 million debt relief from US amid flood crisis
Source: @usembislamabad (Twitter)

ISLAMABAD – The US has agreed to suspend loans worth $132 million under the G-20 Debt Service Suspension Initiative (DSSI) framework for Pakistan as the South Asian country in dire need of financial assistance to pace up relief efforts after massive deluges.

US Ambassador Donald Blome has signed the second bilateral agreement in this regard, said US Embassy on Twitter.  

The agreement will provide $132 million in US debt relief to Pakistan, the embassy said.

“Our priority is to redirect critical resources in Pakistan,” it said while referring to the historic floods that have affected over 33 million people in the South Asian country and claimed over 1,500 lives since mid-June.

The development comes a day after Prime Minister Shehbaz Sharif attended a ceremony at the embassy to mark the completion of the 75th anniversary of diplomatic ties between the two countries.

Speaking on the occasion, the US ambassador vowed to support Pakistan in diverse fields, especially for reconstruction and rehabilitation of flood-hit areas of the country.

He said that people of the United States continue to stand with Pakistan. He said the strength of Pak-US friendship is demonstrated by more than 66 million dollars in U.S. support for flood response.

Ambassador Blome said, over past 75 years, the United States and Pakistan built a relationship based on mutual respect, shared goals and values.

Blome further said that over the decades, more than 32 billion dollars in US support benefited Pakistan and improved the lives of the people.

He said the rapidly changing world provides a pivotal opportunity to reframe relations between the two countries.

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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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