ISLAMABAD – Pakistan Foreign Reserves and Rupee rise and stabilise againstthe US dollar in interbank market.
The rupee/dollar parity remained volatile throughput the outgoing week dueto the spiraling political tensions between Washington and Tehran in thewake 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 thedollar 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 155.80against the greenback.
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Yaqoob Abubakar from Tresmark, an application that tracks financialmarkets, said the rupee/dollar parity saw some fluctuations due to risinggeopolitical 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.
