Tag: foreign exchange market
-
Pakistani rupee continues to gain ground against major currencies
In Tuesday’s interbank session, the Pakistani rupee (PKR) demonstrated resilience against the US dollar (USD), settling the trade at PKR 280.25 per USD.
-
IMF and Pakistan seal agreement on $3 billion SBA, await board approval
In a significant development, the International Monetary Fund (IMF) declared on Wednesday that its team and Pakistani authorities have successfully concluded the initial review of the $3 billion, nine-month Stand-By Arrangement (SBA). This staff-level agreement awaits the approval of the IMF Executive Board. Upon endorsement, approximately US$700 million (SDR 528 million) will be accessible, contributing…
-
IMF’s conditions for agreement: Pakistan must arrange foreign loans and restore foreign exchange market
In a recent development, the International Monetary Fund (IMF) has urged Pakistan to address its political disputes in accordance with the Constitution. This statement came after Prime Minister Shehbaz Sharif reached out to IMF Managing Director Kristalina Georgieva in a last-ditch effort to revive the derailed $6.5 billion bailout package and avoid default. The finance…