No agreed target level for Exchange Rate under IMF program: SBP

MG News | January 10, 2020 at 02:54 PM GMT+05:00

0:00

January 10, 2020 (MLN): Exchange rate is determined by market forces of demand and supply and is a reflection of the existing Balance of Payment (BoP) position.

State Bank of Pakistan (SBP) has said in a tweet that forward exchange rates are determined by the existing spot rates and interest rate differentials of the relevant period i.e. time value of money.

In a series of tweet, SBP apprised that forward exchange rates (ER) are not a forecast of future exchange rates. The report on IMF on Pakistan includes ER assumptions which are not predictions. Under the IMF-supported program, there is no agreed target level for the exchange rate. ER is market-determined.

Moreover, SBP mentioned that IMF-Pakistan had earlier tweeted about the inclusion of exchange rate assumption in its published Staff Report on Pakistan.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	161,631.73 408.94M	3.13% 4898.86
ALLSHR	98,254.73 951.34M	2.71% 2590.07
KSE30	49,377.29 213.50M	3.40% 1624.91
KMI30	232,700.28 121.13M	2.88% 6525.03
KMIALLSHR	64,179.60 399.93M	2.39% 1496.52
BKTi	46,334.17 105.09M	5.56% 2441.42
OGTi	31,362.73 10.58M	1.56% 482.31

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,880.00	111,630.00 107,835.00	2925.00 2.73%
BRENT CRUDE	64.58	65.15 63.81	0.21 0.33%
RICHARDS BAY COAL MONTHLY	86.00	86.00 86.00	-1.90 -2.16%
ROTTERDAM COAL MONTHLY	96.50	99.00 96.50	-2.70 -2.72%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.88	61.38 59.99	0.31 0.51%
SUGAR #11 WORLD	14.42	14.49 14.20	0.14 0.98%