Pakistan rupee sheds value against US dollar
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The Pakistani rupee suffered loss against the US dollar in the interbank market on Friday, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency depreciated by 86 paisas against the greenback which ended the day at Rs277.90.
Interbank closing #ExchangeRate for today https://t.co/13CfLqSi5S#SBPExchangeRate pic.twitter.com/CFFgRmbs4W
— SBP (@StateBank_Pak) July 7, 2023
On Thursday, the Pakistani rupee registered marginal appreciation against the US dollar, strengthening 0.13% to settle at 277.04 in the interbank market.
Interbank closing #ExchangeRate for today https://t.co/s4Ua3qFDzO#SBPExchangeRate pic.twitter.com/o2noX7ErMp
— SBP (@StateBank_Pak) July 6, 2023
In a key development, foreign exchange reserves held by the State Bank of Pakistan surged by $393 million, clocking in at nearly $4.46 billion as of June 30.
The overall number stands at a critical level at around a month of import cover.
Total liquid foreign #reserves held by the country stood at US$ 9.75 billion as of June 30, 2023.
— SBP (@StateBank_Pak) July 7, 2023
For details https://t.co/WpSgomnKT3#SBPReserves pic.twitter.com/oU1s56refZ
Reporter Ashraf Khan