Karachi: The Pakistani Rupee (PKR) showed strength this week, with the US Dollar and other major currencies experiencing a slight decline in both interbank and open markets.
In the interbank market, the US Dollar fell by 7 paisas, closing at PKR 277.67 from the previous PKR 277.74. Similarly, in the open market, the Dollar dropped by 9 paisas to settle at PKR 278.65.
The Euro recorded a significant decrease of PKR 6.93, bringing its value to PKR 292.97. The British Pound also fell by PKR 9.58, closing at PKR 351.12.
Meanwhile, the UAE Dirham dropped by 1 paisa to PKR 75.96, while the Saudi Riyal rose by 4 paisas to PKR 74.18.
Reserves Update
The State Bank of Pakistan reported an $84 million increase in its foreign exchange reserves, raising them to $11.25 billion. However, commercial bank reserves decreased by $51 million, now standing at $4.7 billion.
Overall, the country’s total foreign exchange reserves rose by $34 million, reaching $15.96 billion.
