KARACHI: Pakistani rupee on Thursday continued its upward trajectory against the US dollar, gaining 0.1 percent in the interbank market.
As per the State Bank of Pakistan (SBP), the rupee closed at 221.42 after an appreciation of Rs0.23.
Interbank closing #ExchangeRate for todayhttps://t.co/4wCMZ11M5A pic.twitter.com/IheleqCtt1
— SBP (@StateBank_Pak) November 10, 2022
On Tuesday, rupee had remained firm against the US dollar in the interbank market, settling at 221.65 after an appreciation of Rs0.01 or 0.01%.
The rupee has remained largely stable in recent days, hovering around the 221-222 level in the interbank market even as the US dollar maintained a foothold against other currencies.
However, in the open market, the US dollar is being sold between Rs225 to 228, said forex dealers.
Moreover, the federal government has decided to withdraw the State Bank of Pakistan (SBP) and the National Bank of Pakistan (NBP)’s appeals from the Supreme Court against Sharia court with respect to making the economy interest-free in the next five years.
Finance Minister Ishaq Dar shared that the central bank would receive $500 million from the Asian Infrastructure Investment Bank (AIIB) within this month, another boost to Pakistan’s foreign exchange reserves.
