US dollar declines after rise against Pakistani rupee

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KARACHI: The United States (US) dollar declined by 31 paisas against the Pakistani rupee in the interbank market on the last trading day of the week.

According to the data shared by the State Bank of Pakistan (SBP), the greenback closed at Rs176.07 against the domestic currency on Friday, showing depreciation of 31 paisas over the previous close of Rs176.38.

On Thursday, the dollar had ended higher by 15 paisas at Rs176.38 against the rupee in the interbank market.

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Earlier, the State Bank of Pakistan (SBP) said the foreign exchange reserves held by the central bank fell US$88 million during the week ending on January 7.

Sharing a break-up of the foreign reserves position, the SBP said that the foreign currency reserves held by the SBP were recorded at $17.6bn, down $88mn compared with 17, 680 million on January 7.

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Meanwhile, total liquid foreign reserves held by the country stood at $23.9 billion on January 07, 2022, stated the SBP. Net foreign reserves held by commercial banks stood at $6.3 billion.

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