The latest currency exchange rates against the Pakistani rupee show some fluctuations. The US Dollar is being bought at Rs 278.50 and sold at Rs 280.30.

The British Pound is trading at a buying rate of Rs 369.70 and a selling rate of Rs 373.35, while the Euro is available for Rs 308.15 for buying and Rs 311.20 for selling.

Among Gulf currencies, the Saudi Riyal (SAR) and UAE Dirham (AED) are trading at Rs 73.60 and Rs 75.35 for buying, and Rs 74.30 and Rs 76.10 for selling, respectively.

The Australian Dollar (AUD) is being bought at Rs 188.40 and sold at Rs 191.50. The Canadian Dollar (CAD) is available at Rs 204.00 for buying and Rs 208.50 for selling.

For more valuable currencies, the Swiss Franc (CHF) is trading at Rs 324.10 for buying and Rs 327.30 for selling. Premium currencies like the Omani Rial, Bahraini Dinar, and Kuwaiti Dinar maintain their high values.

The Omani Rial (OMR) and Bahraini Dinar (BHD) have buying rates of Rs 717.50 and Rs 731.65, with selling rates at Rs 724.70 and Rs 739.00, respectively. The Kuwaiti Dinar (KWD) remains the highest-valued currency, trading at Rs 898.15 for buying and Rs 907.10 for selling.

In economic news, the International Monetary Fund (IMF) recently approved a $7 billion bailout package for Pakistan under its Extended Fund Facility (EFF). This marks the 25th IMF program in the country’s history and aims to achieve macroeconomic stability, enhance tax revenues, and manage fiscal risks.

The package requires Pakistan to implement new taxes, reduce subsidies, and transfer key responsibilities such as health and education to provincial governments. Key reforms include increasing the agricultural income tax to align with federal rates, cutting subsidies on electricity and gas, and controlling provincial budgets.

However, the IMF program does not fully address Pakistan’s needs for external and domestic debt restructuring, which remain significant challenges for economic sustainability.

Pakistan, which had previously requested climate financing but was ineligible due to a lack of a larger program, now qualifies for $1 to $1.5 billion in concessional financing after meeting the IMF and World Bank’s climate assessment criteria. Finance Minister Muhammad Aurangzeb plans to discuss the new program with the IMF during his upcoming visit to Washington next month.