Rupee gains Rs 0.30 against US dollar in interbank market

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rupee US dollar

Karachi: The Pakistani rupee on Friday recorded a marginal gain of Rs 0.30 against the US dollar in the interbank market after falling in two previous sessions.

According to the State Bank of Pakistan (SBP), at the end of the session today, the local currency appreciated by 0.14% to close at Rs 214.65 against the greenback.

On Thursday, the PKR had depreciated by 0.03%.

According to the SBP’s data, during the week, the rupee appreciated 0.38% or by Rs 0.84 against the USD.

Jameel Ahmad appointed as SBP governor

In a major development, the federal government on Friday appointed Jameel Ahmad as the new governor of the State Bank of Pakistan.

A notification was issued by the Ministry of Finance that notified the appointment of Jameel Ahmad for five years upon receiving approval of the President of Pakistan.

The coveted position of the SBP’s governor had remained vacant since May 4, when Raza Baqir left the office on the completion of his tenure.

After his exit, Dr Murtaza Syed assumed the office as an acting governor.

Last month, it surfaced that the federal government was considering a list of six names, including Jameel Ahmad, for the SBP’s governorship.

The newly-appointer governor, a seasoned banker with more than 26 years of experience, has previously served as the central bank’s deputy governor.

“He has also served as Group Head, Operations, Banking Policy & Regulations, Development Finance, and Financial Resource Management,” a statement from the SBP read.

Jameel Ahmad’s illustrious career as an accomplished central banker span over 26 years, working at senior positions at the State Bank of Pakistan and the Saudi Arabian Monetary Agency (SAMA), the statement further read.

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