Pakistani rupee crushes US dollar's attempt to stage a comeback

By: News Desk
Published: 10:15 AM, 15 Apr, 2022
Pakistani rupee crushes US dollar's attempt to stage a comeback
Caption: Representational image.
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A bolstered Pakistani rupee did not let the US dollar stage a comeback on Friday despite a spirited effort by the greenback in interbank trading on Friday, reported 24NewsHD TV channel. 

The US dollar which started the business robustly and gained 66 paisas after a streak of heavy losses to the Pakistani currency could not sustain its comeback attempt and lost its gain to the rupee which recovered its lost ground and also scored a gain of 11 paisas.

The Pakistani rupee was trading at Rs181.58 after gaining 11 paisas when the business was halted for the day.

The greenback was closed at Rs181.69 yesterday.

Forex reserves stand at $17.03 billion

Total liquid foreign reserves held by the country stood at US$17.03 billion as of April 08, 2022, said a tweet uploaded by the State Bank of Pakistan (SBP) on Friday morning.

Remittances rise to highest level

Another good news is that the workers’ remittances rose to their highest level in history at $2.8 billion in March 22. Cumulatively, remittances have risen to $23 billion during the first 9 months of FY22, up 7.1% over the same period last year, said State Bank of Pakistan (SBP) in a tweet posted on Thursday morning.

Reporter Ashraf Khan