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KARACHI: Pakistani rupee on Friday registered marginal loss against the US dollar, depreciating 0.01 percent in the interbank market.
As per the State Bank of Pakistan (SBP), the rupee closed at 223.94 after a decrease of Rs0.02.
Interbank closing #ExchangeRate for todayhttps://t.co/jiEGHwzyW5 pic.twitter.com/YIu1TNztjx
— SBP (@StateBank_Pak) November 25, 2022
On Thursday, the rupee had registered a marginal depreciation against the US dollar to settle at 223.92 after a drop of Rs0.11 or 0.05%.
The meeting of the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is scheduled to be held today (Friday) at SBP Karachi to take a decision on the key policy rate.
Moreover, the State Bank of Pakistan (SBP) foreign exchange reserves have decreased $134 million on a weekly basis, clocking in $7.83 billion as of November 18, 2022, according to data released on Thursday.
Total liquid foreign reserves held by the country stood at $13.65 billion. Net foreign reserves held by commercial banks clocked in at $5.82 billion.
SBP-held foreign exchange reserves rise $3mn, stand at $7.96bn
The SBP stated in a statement that due to external debt repayment, SBP’s reserves declined by $134 million to $7,825.7 million during the week ending on November 18, 2022.
The SBP would get $500 million from the Asian Infrastructure Investment Bank (AIIB) in the current month, Finance Minister Ishaq Dar stated earlier in the month.
The AIIB board approved the funding as “co-financing of the Asian Development Bank (ADB) funded BRACE program for Pakistan.” the finance minister announced in a tweet.
