Pakistani rupee surges against US dollar in interbank

The Pakistani rupee has strengthened against the US dollar, appreciating 0.1% during the interbank trading on Friday, reported 24NewsHD TV channel.

According to information receiving from forex dealers, the local currency was hovering at 277.50, a gain of 29 paisas against the US dollar

On Thursday, the Pakistani rupee had settled the day at Rs277.79, according to the State Bank of Pakistan (SBP).

In a key development, foreign exchange reserved held by the SBP increased by $215 million on a weekly basis, clocking in at $11.02 billion to hit 2.5-year high as of October 11, 2024, data released on Thursday showed.

Reporter Ashraf Khan