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.

https://twitter.com/StateBank_Pak/status/1697567692633612295

On Thursday, the local currency had closed at a record low of Rs305.54 against the US dollar in the interbank market.

https://twitter.com/StateBank_Pak/status/1697206747440849287

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”.

https://twitter.com/StateBank_Pak/status/1697479749424267515

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.

https://twitter.com/StateBank_Pak/status/1697498425540128914

Reporter Ashraf Khan