Pakistani Rupee makes a minor recovery against US dollar
Pakistan rupee recovered late to remain stable against the US dollar at the close of the interbank trading Saturday after losing a little shine in early hours.
Pakistani rupee made a comeback in interbank trading as the greenback gained 6 paisa in its value in early trading.
According to data provided by the money dealers on Monday, the exchange rate recorded a decline of 6 paisa and the US dollar was traded at Rs225 in the interbank trading.
However, at the close of the say, the Pakistan rupee was being traded for Rs224.94 the same as the last day of the precious trading week.
The rupee is under pressure on the back of depleting foreign reserves, falling remittances, slow manufacturing and declining exports.
According to the State Bank of Pakistan, country’s foreign exchange reserves have eased by $12 million to $12.57 billion by week ended December 09, 2022.