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US dollar surges by Rs1.12 against Pakistani rupee in a day

KARACHI: The United States (US) dollar registered an increase of Rs1.12 in its value against the Pakistani rupee in the interbank market on Friday.

According to forex dealers, the greenback ended 163.10 against the local unit in the interbank market.

The US dollar had finished at 161.98 against the rupee the other day.

Read More: US-China tension to push Asian shares lower in choppy trade

On May 28, the State Bank of Pakistan (SBP) recorded $55 million decrease in its liquid foreign reserves.

According to the central bank’s weekly report, the total foreign reserves held by the country stood at $ 18,597.9 million. The net reserves held by commercial banks stood at $6,524 million.

SBP reserves decreased by $55 million to 12,073 million due to external debt repayments, read the report.

Read More: Gold price rises by Rs700 per tola in domestic market

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