Alvi approves 4 new ordinances to fulfil IMF program’s requirements
Pakistani rupee rises against US dollar after extension in Saudi $3b deposit
President Arif Alvi Thursday approved four new ordinances under the IMF program. The President approved the NHA Amendment Ordinance 2023.
The President also signed the Pakistan Postal Services Management Board Amendment Ordinance 2023.
He also approved the Pakistan National Shipping Corporation Amendment Ordinance 2023 and the Pakistan Broadcast Corporation Amendment Ordinance 2023.
Earlier,
Emboldened by the Saudi extension in its $3 billion deposit with State Bank of Pakistan, the Pakistani rupee muscled its way up against the US dollar in the interbank market on Thursday. According to the State Bank of Pakistan, the local currency appreciated by 22 paisas against the greenback and ended the day at Rs285.17.
On Wednesday, the Pakistani rupee has recorded a minor gain against the US dollar and settled for the day at Rs285.39.
In a vital development, the Kingdom of Saudi Arabia had extended the term for a $3 billion deposit placed with Pakistan to support Pakistan’s economy, State Bank of Pakistan (SBP) said.
According to the SBP, the Saudi Fund for Development (SFD) on behalf of the Kingdom of Saudi Arabia has extended the term for the deposit of $3 billion maturing on December 5, 2023 for another one year
The Pakistani currency exchange rates for different currencies including US Dollar (USD), Saudi Riyal (SAR), UK Pound Sterling (GBP), UAE Dirham (AED), European Euro (EUR), and other foreign currencies on November 30, 2023 (Thursday).
The forex markets in Pakistan are open from 9am to 5pm. During this time, the rates may fluctuate.
The final exchange rate of a currency for that day is issued at 5pm.
The closing rate of today will be the opening rate of every currency next day.
The Pakistani currency exchange rates for different currencies including US Dollar (USD), Saudi Riyal (SAR), UK Pound Sterling (GBP), UAE Dirham (AED), European Euro (EUR), and other foreign currencies on November 30, 2023 (Thursday).
These rates are applicable for interbank transactions and may vary slightly for retail transactions.
The Pakistani rupee to Indian rupee today is 3.42 at the time of closing.
