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Pak Rupee remains stable against dollar in interbank market

Pak Rupee remains stable against dollar in interbank market

KARACHI: The Pakistani rupee remained stable against the US dollar in the interbank currency market during the outgoing week.

According to a weekly report, the local currency settled at 154.56 against the greenback.

However, the rupee ended slightly weaker against the dollar in the open market, finishing at 155 against the last week’s closing of 154.80.

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.