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Wednesday, November 27, 2024

Home Business Pak rupee gains against dollar

Pak rupee gains against dollar

by admin
January 11, 2020
in Business

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Staff Reporter

Karachi

Pakistani rupee extended an upward trend against the US dollar in the interbank market at the start of Friday’s trading.
According to Forex Association of Pakistan, the greenback depreciated three paisa to trade at 154.85 against the rupee as compared to Thursday’s closing of 154.88.
Pak rupee traded at 155.30 against USD in cash free market on Friday. It is to mention here that the State Bank of Pakistan’s (SBP) net reserves saw an increase of $14 million to clock in at $11.50 billion during the week ending December 03, according to data released by the center bank. According to the central bank’s data released Thursday, the country’s total foreign reserves stood at $18.84 billion.
Foreign reserves held by the State Bank of Pakistan stood at $11.50 billion while net foreign reserves held by commercial banks at $6.58 billion.