Pakistani rupee records marginal gain against US dollar in interbank
By News Desk
September 1, 2023 11:47 AM
The Pakistani rupee recorded a marginal gain against the US dollar in the interbank trading on Friday, reported 24NewsHD TV channel.
As per the State Bank of Pakistan, the Pakistani rupee appreciated by seven paisas against the greenback and ended the day at Rs305.47.
On Thursday, the local currency had closed at a record low of Rs305.54 against the US dollar in the interbank market.
In a key related development, the State Bank of Pakistan (SBP) had rejected reports making rounds in the media about holding an emergency meeting of the Monetary Policy Committee (MPC), terming them “completely baseless”.
The central bank said that it would be “premature to forecast the future policy rate as only the MPC, which is an independent statutory body, is empowered to decide about the policy rate”.
The next meeting of the MPC is scheduled to be held on September 14, 2023.
Meanwhile, the State Bank has reported decline in its foreign exchange reserves.
Reporter Ashraf Khan