Rupee gains 21 paisas against dollar on improved economic indicators

KARACHI: The Pak Rupee made a substantial gain of 21 paisas on Friday against dollar owing to improved economic indicators and increase in foreign exchange reserves.

The rupee ended at Rs154.17 to the dollar as compared with previous day’s closing of Rs154.38 in interbank foreign exchange market.

Currency dealers said that improved numbers of foreign inflows helped the rupee to make gain.

Pakistan’s liquid foreign exchange reserves have increased by $91 million to $18.735 billion by week ended February 07, 2020, State Bank of Pakistan (SBP) said a day earlier.

The foreign exchange reserves were at $18.644 billion by week ended January 31, 2020.

The foreign exchange reserves of the central bank increased by $157 million to $12.431 billion by week ended February 07, 2020 as compared with $12.274 billion a week ago.

However, the foreign exchange reserves held by commercial banks fell by $66 million to $6.304 billion by week ended February 07, 2020 as compared with $6.37 billion a week ago.

The foreign currency market was initiated in the range of Rs154.32 and Rs154.38. The market recorded day high of Rs154.37 and low of Rs154.15 and closed at Rs154.38.

The exchange rate in open market was remained unchanged. The buying and selling of the dollar was recorded at Rs154.20/Rs154.50, same previous day’s closing, in cash ready market.

Leave a Reply

You have to agree to the comment policy.