Pakistan Foreign Reserves and Rupee rise and stabilise against the US dollar in interbank market

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Pakistan Foreign Reserves and Rupee rise and stabilise against the US dollar in interbank market

ISLAMABAD - Pakistan Foreign Reserves and Rupee rise and stabilise against the US dollar in interbank market.

The rupee/dollar parity remained volatile throughput the outgoing week due to the spiraling political tensions between Washington and Tehran in the wake of the US assassination of a top Iranian general, reported *The News * link Sunday.

In the interbank market, the rupee broke the level of 155 against the dollar on Tuesday and Wednesday, but settled at 154.83 on Friday.

In the open market, the rupee traded in the band of 155.30 and 155.80 against the greenback.

Yaqoob Abubakar from Tresmark, an application that tracks financial markets, said the rupee/dollar parity saw some fluctuations due to rising geopolitical risks.

“The week closes on a positive note with the increase in Forex reserves by $3.4 million and some adjustment between the US and Iran,” he said.

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