Pakistani Rupee thrashes US dollar in interbank
Pakistani Rupee gained 12 paisas value against the US dollar in interbank trading on Friday — the last day of the trading week.
The US dollar rose to Rs278.55 paisas in interbank trading.
The State Bank of Pakistan has released its latest data, revealing a significant increase in domestic foreign exchange reserves.
The reserves have risen by $1.92 million to reach $9.29 billion, a welcome boost for the country's economy.
Commercial banks have also seen a surge in deposits, with an increase of $3 million to $5.037 billion. This has contributed to a total increase of $2.2 million in domestic foreign exchange reserves.
The country's total dollar reserves now stand at $14.066 billion, a positive sign for Pakistan's economic stability.
The increase in foreign exchange reserves can help stabilize the rupee, control inflation, and provide a cushion for external shocks. It's a step in the right direction for Pakistan's economic growth and development.
