Wednesday, August 17, 2022

Rupee falls further against US dollar in interbank

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KARACHI: After recording an upward march against US dollar following the success of no-trust move and the formation of new coalition government, the Pakistan rupee lost more ground against US dollar in the interbank on Tuesday, ARY News reported.

According to forex dealers, the rupee shed Rs1.90 against US dollar with the latter closed at Rs184.44 in the interbank.

In the open market, the greenback was trading at over Rs184 against the Pakistani rupee.

The Pakistani rupee had closed at Rs182.54 against the greenback in the interbank market on Thursday.

Meanwhile, the State Bank of Pakistan’s (SBP) foreign exchange reserves dipped by $470 million to $10.849 billion during the week that ended on April 8, data released by the central bank showed on Thursday.

The total liquid foreign reserves held by the country, including net reserves of commercial banks, stood at $17.028 billion as of April 8.

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