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Pak Rupee rises nine paisa against US dollar

Pak Rupee rises nine paisa against US dollar

KARACHI: The Pakistani rupee gained nine paisa against the US dollar in the inter-bank market on Friday.

According to forex dealers, the local unit settled at 154.40 for the day against yesterday’s closing of 154.49 against the greenback.

Meanwhile, the Paksitani rupee remained stable in the open market and finished at 154.60 versus the US dollar.

The State Bank of Pakistan (SBP) in a statement on Thursday had reported an increase of $359 million in its foreign exchange reserves. The central bank said its net reserves stood at US$12.27 billion during the week ending January 31.

Whereas, the total liquid foreign reserves held by the country increased by $282 million to $18.64 billion while net foreign reserves held by commercial banks were recorded at $6.37 billion.