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Pak Rupee appreciates by Rs0.33 against US dollar

Pak Rupee appreciates by Rs0.33 against US dollar

KARACHI: The exchange rate of Pakistani rupee strengthened by Rs0.33 against US dollar in the interbank market.

According to foreign currency dealers, the greenback weakened at 166.30 against the Pak rupee as compared to Friday’s closing of Rs167.75 in the interbank market.

The Pakistani rupee strengthened by Rs0.10 against US dollar in the interbank market on the last working day.

Last week, the State Bank of Pakistan (SBP) recorded a decrease of $266 million in its foreign reserves.

According to the central Bank’s statistics, the total liquid foreign reserves held by the country stood at $ 16.7billion in the week ending on June 6. The decrease was attributed to the government’s external debt repayments of $301 million.

Giving a break-up of the foreign reserves position, it said that commercial banks currently hold reserves of upto $6.6 billion.