Pakistani rupee marches ahead against US dollar in interbank market
The Pakistani rupee marched ahead with the 18th uninterrupted gain against the US dollar in the interbank market on Monday, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency appreciated by 98 paisas against the greenback. However, at close Pakistan's rupee was appreciated by 0.34 percent against the US dollar and the trade closed at Rs286.76.
Interbank closing #ExchangeRate for today https://t.co/45oRSCNJQR#SBPExchangeRate pic.twitter.com/h1eONdqIYg
— SBP (@StateBank_Pak) October 2, 2023
On the last trading day on Thursday, the Pakistani rupee had maintained its upward trajectory against the US dollar, gaining 0.35% in the interbank market. At the close, the rupee had settled at Rs287.74 after an increase of Rs1.01 in the interbank market.
Interbank closing #ExchangeRate for today https://t.co/K9pF3QxMS3#SBPExchangeRate pic.twitter.com/gXBbpXqugl
— SBP (@StateBank_Pak) September 28, 2023
In a key development, the repatriation of profits and dividends by foreign investors on their investment in Pakistan sharply rose by 74.46% during the first two months of this fiscal year (FY24).
Total liquid foreign #reserves held by the country stood at US$ 13.16 billion as of September 22, 2023.
— SBP (@StateBank_Pak) September 29, 2023
For details https://t.co/WpSgomnKT3#SBPReserves pic.twitter.com/UfYtppQrA3
Reporter Ashraf Khan