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Pak Rupee strengthens against US dollar in interbank market

Pak Rupee strengthens against US dollar in interbank market

 

KARACHI: The exchange rate of Pakistani rupee strengthened by Rs0.10 against US dollar in the interbank market, ARY News reported on Thursday.

According to foreign currency dealers, the greenback weakened at 165.75 against the Pak rupee as compared to yesterday’s closing of Rs165.85 in the interbank market.

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.