Pakistani rupee takes its winning tally against US dollar to 10 in interbank
The Pakistani rupee took its tally of cornering the US dollar to 10th consecutive session on Tuesday as the interbank market opened after an extended weekend, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency went up by 16 paisas against the greenback and ended the day at Rs282.37.
Interbank closing #ExchangeRate for todayhttps://t.co/9PAgeVIxhy#SBPExchangeRate pic.twitter.com/N1IWSzGic5
— SBP (@StateBank_Pak) December 26, 2023
On the last business session on Friday, the Pakistani rupee had climbed up against the US dollar by 0.09 percent in the interbank, settling at Rs282.53 after an increase of 26 paisas.
Interbank closing #ExchangeRate for todayhttps://t.co/rQ1MJ3JxhB#SBPExchangeRate pic.twitter.com/oFbB0AeRu8
— SBP (@StateBank_Pak) December 22, 2023
It is interesting to note that the Pakistani rupee’s rollercoaster ride is pushing ahead despite the sharp plunge in country’s foreign exchange reserves.
Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell below $7 billion. The reserves decreased by $136 million to $6.904 billion due to debt repayments during the week ended December 15, 2023.
Total liquid foreign #reserves held by the country stood at US$ 12.07 billion as of December 15, 2023. For details https://t.co/WpSgomnKT3#SBPReserves pic.twitter.com/Fk38G0vM0L
— SBP (@StateBank_Pak) December 22, 2023
Reporter Ashraf Khan