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Dollar rises four paisa against Pak rupee in inter-bank market

Dollar rises four paisa against Pak rupee in inter-bank market

KARACHI: The US dollar saw a four paisa appreciation in its value against the Pakistani rupee in the interbank market at the start of the day’s trading.

According to forex dealers, the greenback appreciated by four paisa and is trading at 154.65 against the local currency.

A day earlier, the dollar had risen nine paisa to 154.61 from 154.52 against the rupee in the interbank market.

On the other hand, the dollar depreciated by 10 paisa to settle at 154.80 against the rupee the other day.

It is to mention here that the State Bank of Pakistan (SBP) on Jan 24 reported an increase of $146 million in its reserves.

The foreign exchange reserves held by the central bank increased by $146 million to $11.73 billion during the week ending January 17, according to the data. The total liquid foreign reserves held by the country stood at $18,271 million on 17th of this month.

Foreign reserves held by the State Bank of Pakistan stood at $11,731.5 million, while net foreign reserves held by commercial banks at $6,539.5 million.