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SAR TO PKR and other currency rates in Pakistan on, 3rd March 2022

SAR TO PKR and other currency rates in Pakistan on, 3rd March 2022

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SAR TO PKR and other currency rates in Pakistan on, 3rd March 2022

KARACHI: The buying rate of 1 SAR to PKR was Rs4695.00 and selling rate of 1 SAR to PKR was Rs47.600 in the interbank market on March 3rd, 2022.

Meanwhile, the following are the rates of the US Dollar, Saudi Riyal, UK Pound, UAE Dirham, and other foreign currencies in the interbank market today.

The information has been obtained from the Forex Association of Pakistan.

SAR to PKR and other currency rates in Pakistan

Check the updated SAR TO PKR exchange rates on March 3rd, 2022.

AUSTRALIAN DOLLAR127.750128.750
Bahrain Dinar386.500388.500
CANADIAN DOLLAR139.000141.000
CHINESE YUAN23.55023.950
DANISH KRONE23.65023.950
EURO198.500200.000
HONG KONG DOLLAR16.60016.850
INDIAN RUPEE2.0302.100
JAPANESE YEN1.4101.440
KUWAITI DINAR481.850484.350
MALAYSIAN RINGGIT36.75037.100
NewZealand $96.85097.550
NORWEGIANS KRONE17.50017.750
OMANI RIYAL392.850394.880
QATARI RIYAL39.90040.500
SAUDI RIYAL4695.0047.600
SINGAPORE DOLLAR128.750130.250
SWEDISH KRONA18.75019.000
SWISS FRANC160.350161.250
THAI BHAT4.8004.900
U.A.E Dirham48.30049.000
UK Pound Sterling237.000239.500
US Dollar177.500179.000

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The gold price in Pakistan today

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According to the All Sindh Sarafa Jewellers Association, the price of 10 grammes of 24 karat gold increased by Rs772 to Rs184,928 from Rs184,156, while the price of 10 grammes of 22 carat gold increased to Rs169,517 from Rs168,810.

These oscillations are strongly correlated with shifts in the US dollar’s value, demonstrating the complex interplay between gold prices and exchange rates.

This emphasises how local gold prices are impacted by events related to the global economy.

On the other hand, the cost of 24-karat silver was constant at Rs 2,570. Globally, too, the price of gold increased somewhat by $9 to $2,057 per ounce.

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Pakistan receives a $2 billion loan from China, according to the finance minister

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The $2 billion loan was one year ahead of schedule and became due in March. According to reports, Beijing had informed Islamabad of the decision.

The International Monetary Fund granted Pakistan’s cash-strapped economy a $3 billion standby arrangement last summer, but the country is still battling to recover from the financial crisis.

According to ratings firm Fitch, one of the top concerns confronting the next administration would be obtaining funding from bilateral and multilateral partners due to Pakistan’s precarious foreign situation, as was stated last week.

This event occurs one month after Anwaar-ul-Haq Kakar, the acting prime minister, asked for a $2 billion loan to be rolled over for a year in a letter to his Chinese counterpart.

In his letter, Kakar also expressed gratitude for China’s efforts to lessen Pakistan’s load

of foreign payments.

It is to be noted that Pakistan acquired safe deposits of $4 billion from China to address the balance of payments issue.

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“Ready to work with Pakistan’s new government,” the IMF said.

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In response to the former premier’s request, IMF Director of Communications Julie Kozak stated, “I’m not going to comment on ongoing political developments,” during a news conference.

She continued by saying that they “look forward to working on policies to ensure macroeconomic stability and prosperity for all of Pakistan’s citizens with the new government.”

In addition to stating that the plan is “supporting the authority’s efforts to stabilise the economy and to, of course, with a strong focus on protecting the most vulnerable,” Kozack said the lender increased the total disbursements under the Standby Arrangement (SBA) to $1.9 billion.

This has been accomplished by closely adhering to budgetary constraints and safeguarding the social safety net. In order to keep foreign exchange reserves growing and rein in inflation, a strict monetary policy stance has been maintained, the speaker stated.

The PTI founding chairman decided to write a letter to the international lender, asking it to demand an audit of the election held on February 8 before it proceeds with discussions with Islamabad for a new loan programme. This move prompted the IMF to release its statement.

In response to the former premier’s request, IMF Director of Communications Julie Kozak stated, “I’m not going to comment on ongoing political developments,” during a news conference.

She continued by saying that they “look forward to working on policies to ensure macroeconomic stability and prosperity for all of Pakistan’s citizens with the new government.”

In addition to stating that the plan is “supporting the authority’s efforts to stabilise the economy and to, of course, with a strong focus on protecting the most vulnerable,” Kozack said the lender increased the total disbursements under the Standby Arrangement (SBA) to $1.9 billion.

This has been accomplished by closely adhering to budgetary constraints and safeguarding the social safety net. In order to keep foreign exchange reserves growing and rein in inflation, a strict monetary policy stance has been maintained, the speaker stated.

The PTI founding chairman decided to write a letter to the international lender, asking it to demand an audit of the election held on February 8 before it proceeds with discussions with Islamabad for a new loan programme. This move prompted the IMF to release its statement.

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