PKR gains 43 paisas against US dollar in interbank trade
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The Pakistani Rupee gained 34 paisas against the powerful American currency on Monday and reached 220.50 in the interbank trading, reported 24NewsHD TV channel.
However, the US dollar closed at Rs220.41 after losing 43 paisas to the local units. The previous week’s closing of the PKR was Rs220.84.
The Pakistani rupee gained a few paisas in its value against the US dollar in the interbank trading on Friday.
According to the forex dealers, the local unit is under pressure due to falling reserves.
Interbank closing #ExchangeRate for todayhttps://t.co/gdADzgeA0K pic.twitter.com/6BnvqJSFqz
— SBP (@StateBank_Pak) October 24, 2022
Pertinent to note that last week ending on Oct 14, the foreign exchange reserves held by the country increased by $4.1 million to $13.25 billion, according to the SBP.
The central bank held reserves slightly increased by $0.30mn to $7.60bn. Meanwhile, reserves held by the commercial bank went up by $3.80mn to $5.65bn.