PKR remains stable against US dollar in interbank

KARACHI: Pakistanis rupee on Friday remained unchanged against the US dollar in the interbank market.

As per the State Bank of Pakistan (SBP), the rupee settled at 223.69 against the greenback on Friday. On a weekly basis, the rupee registered an appreciation of 0.11 percent against US dollar.

On Thursday, the rupee had recorded an appreciation against the US dollar to settle at 223.69 after falling Rs0.26 or 0.12 percent.

The State Bank of Pakistan’s (SBP) foreign exchange reserves declined by $327 million each week, falling to $7.5 billion as of November 25, 2022, according to information provided on Thursday.

For Pakistan, which has been frantically pursuing dollar inflows to meet its balance-of-payments needs, the reserve position is crucial. A low reserve level puts pressure on the currency, which has recently only experienced stability.

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