Rupee extends upward trend against US dollar

KARACHI: The Pakistani rupee extended an upward trend against the US dollar in the interbank market at the start of today’s trading, ARY News reported.

According to forex dealers, the greenback depreciated three paisa to trade at 154.85 against the rupee as compared to yesterday’s closing of 154.88.

It is to mention here that the State Bank of Pakistan’s (SBP) net reserves saw an increase of $14 million to clock in at $11.50 billion during the week ending December 03, according to data released by the center bank.

Read More: SBP reserves jump $14mn to $11.5bn

According to the central bank’s data released yesterday, the country’s total foreign reserves stood at $18.84 billion.

Foreign reserves held by the State Bank of Pakistan stood at $11.50 billion while net foreign reserves held by commercial banks at $6.58 billion.