Pakistani rupee records 9th consecutive gain against US dollar in interbank
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The Pakistani rupee registered its ninth consecutive gain against the US dollar in interbank on Friday despite sharp decline in country’s foreign exchange reserves, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency appreciated by 26 paisas and ended the week at Rs282.53.
Interbank closing #ExchangeRate for todayhttps://t.co/rQ1MJ3JxhB#SBPExchangeRate pic.twitter.com/oFbB0AeRu8
— SBP (@StateBank_Pak) December 22, 2023
On Thursday, the Paistani rupee had scored a marginal increase against the US dollar as it went up by 11 paisas and settled for the day at Rs282.79 in interbank market.
Interbank closing #ExchangeRate for today https://t.co/9oQOEf4V2M#SBPExchangeRate pic.twitter.com/eMBOUJIr8P
— SBP (@StateBank_Pak) December 21, 2023
In a related development, the foreign exchange reserves held by the State Bank of Pakistan (SBP) fell below $7 billion.
The reserves shrank by $136 million to $6.904 billion due to debt repayments during the week ended December 15, 2023.
Total liquid foreign #reserves held by the country stood at US$ 12.07 billion as of December 15, 2023. For details https://t.co/WpSgomnKT3#SBPReserves pic.twitter.com/Fk38G0vM0L
— SBP (@StateBank_Pak) December 22, 2023
Reporter Ashraf Khan