Pakistani Rupee stabilised against US dollar in the interbank market

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Pakistani Rupee stabilised against US dollar in the interbank market

KARACHI: Pakistani Rupee stabilised against US dollar in the interbank market.

The Pakistani rupee depreciated by two paisa against the US dollar in the interbank market at the start of Monday’s trade, however remained stable afterwards.

According to forex dealers, the dollar is trading at 154.58 against the local currency as compared to last week’s closing of 154.56.

Last week, the rupee rose link 27 paisa to finish at 154.56 from 154.83 against the dollar in the interbank market – its highest in seven months.

Whereas, the Pakistani rupee appreciated by 40 paisa against the US dollar to settle at 154.80 in the open market.

Earlier, on Jan 14, the State Bank of Pakistan had reported a $82.3 million increase link in its net reserves during the week ending January 10.

According to the data released by the central bank, the country’s total foreign reserves stood at $18.12 billion.

Foreign reserves held by the State Bank of Pakistan stood at $11.58 billion while net foreign reserves held by commercial banks at $6.53 billion.

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