The Pakistani rupee gained slightly in the interbank market on Friday, a day after the central bank reported an increase in the forex reserves.
The US dollar had closed at Rs214.95 on Thursday in the interbank market. Friday saw the rupee growing strong against the greenback, which at one point fell to Rs214.
However, the US dollar recovered later and closed at Rs214.65, with the rupee gaining 30 paisas or 0.14%, according to the State Bank of Pakistan.
The recovery of the rupee is being pegged on the State Bank of Pakistan’s announcement about forex reserves. The reserves held by the central bank increased by $78 million in the week ended August 12, the SBP said on Thursday.
In the open market, however, the US dollar continued its rally against the rupee and closed at Rs218.
