Observer Report Karachi
The rupee gained for the third straight day against the US dollar on Friday as the currency closed the week at Rs171.65, recording an increase of 0.36% during the day.
Cumulatively, the currency gained around Rs2.35 during the ongoing week owing to $3 billion deposits from Saudi Fund for Development. On Tuesday, the currency had dropped to an all-time low of Rs175.25 against the US dollar.
According to the data released by the central bank on Thursday, the foreign exchange reserves held by SBP fell 2% on a weekly basis.