Tuesday, June 28, 2022

US dollar sheds value against rupee

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KARACHI: The US dollar on Friday shed value against Pakistani rupee in the interbank at the start of the day and traded at Rs185.70, ARY NEWS reported.

According to details, the rupee gained value by Rs0.17 in the interbank from Rs185.87 to trade at Rs185.70.

The rupee on Thursday shed value against US dollar after the greenback gained Rs0.42 in interbank. According to details, the US dollar traded at Rs185.87 after it gained 42 paisas in the interbank. In open market, the forex dealers said that the US dollar traded at Rs186.75.

The State Bank of Pakistan’s (SBP) foreign exchange reserves fell by $328 million to $10.558 billion during the week that ended on April 23, data released by the central bank showed on Thursday.

The total foreign reserves held by the country, including net reserves of commercial banks, stood at $16.668 billion as of April 23.

Read More: Pakistan to seek additional $3.2bn Saudi aid package

Net foreign reserves of banks were recorded at $6.110 million. The SBP said said its reserved decreased due to external debt repayments.

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