KARACHI: The Pak Rupee gained nine paisas against dollar on Friday owing to improved external inflows of the country.
The rupee ended Rs168.29 to the dollar from previous day’s closing of Rs168.38 in interbank foreign exchange market.
Currency experts said that the external inflows and improved foreign exchange reserves of the country helped the local currency to gain value.
The liquid foreign exchange reserves of the country increased by $137 million to $19.655 billion by week ended August 13, 2020, State Bank of Pakistan (SBP) said.
The foreign exchange reserves of the country were at $19.518 billion by week ended August 07, 2020.
The foreign exchange reserves held by the central bank also increased by $139 million to $12.608 billion by week ended August 13, 2020 as compared with $12.469 billion a week ago.
The SBP attributed the increase in reserves to proceeds of $249.4 million from Asian Infrastructure Investment Bank (AIIB). Meanwhile, during the week, SBP also made government external debt repayments of $151.0 million.
The foreign exchange reserves held by commercial banks slightly down by $2 million to $7.047 billion by week ended August 13, 2020 as compared with $7.049 billion a week ago.
