KARACHI: Pakistani rupee on Friday extended its losing run against the US dollar to the 23rd consecutive session, depreciating 0.23 percent in the interbank.
As per the State Bank of Pakistan (SBP), the rupee declined by Rs0.52 to close at 229.67. During the ongoing fiscal year, the rupee has depreciated 10.91% against the greenback.
Interbank closing #ExchangeRate for todayhttps://t.co/VmNyjWZ9Qa pic.twitter.com/y8vJTcpEaZ
— SBP (@StateBank_Pak) January 20, 2023
On Thursday, the rupee had registered a loss for the 22nd successive session against the US dollar to settle at 229.15 after a decrease of Rs0.24 or 0.10%.
The SBP’s foreign exchange reserves increased by $258 million to $4.6 billion, according to data released on Thursday, marking a marginally positive improvement.
Total liquid foreign reserves held by the country stood at $10.44 billion. Net foreign reserves held by commercial banks stood at $5.84 billion. According to AHL, this is the first increase in the reserves in 8 weeks.
“During the week ended on January 13, 2023, SBP’s reserves increased by $258 million to $4,601.2 million,” SBP said in a statement.
In the previous week, foreign exchange reserves held by the SBP had fallen by a hefty $1.23 billion to a highly critical level of $4.34 billion.
