Pakistani rupee scores mild gain against US dollar in interbank market
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The Pakistani rupee registered a mild appreciation in its value against the US dollar in the interbank market on Tuesday, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency went up by nine paisas against the greenback and ended the day at Rs279.55.
Interbank closing #ExchangeRate for today https://t.co/ZdhAVtJByL #SBPExchangeRate pic.twitter.com/7rwoCKFJR5
— SBP (@StateBank_Pak) January 30, 2024
On Monday, the Pakistani rupee had registered a marginal loss to settle at Rs379.64 against the US dollar, shedding five paisas.
Interbank closing #ExchangeRate for todayhttps://t.co/Q6QyRLMIHB #SBPExchangeRate pic.twitter.com/OzQDd2axFM
— SBP (@StateBank_Pak) January 29, 2024
In a key development, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) maintained status quo and kept the key policy rate at 22%.
“The committee noted that the external account (position) has become better,” said SBP Governor Jameel Ahmad. He said despite payments of $6.2 billion, foreign exchange reserves have improved.
1/3 The Monetary Policy Committee (MPC) decided to maintain the policy rate at 22 percent in its meeting held today.https://t.co/MutCaBVSV3#SBPMonetaryPolicy pic.twitter.com/0ZFWnGJ1Kw
— SBP (@StateBank_Pak) January 29, 2024
Reporter Ashraf Khan