Dollar loses values against rupee in interbank market

Karachi:  After upward trajectory, US dollar went a bit loss against rupee in the interbank market on Friday.

The State Bank of Pakistan took to X and confirmed the development, saying that dollar lost 0.02 against rupee. According to the central bank, dollar reached at Rs279.36 in the interbank while it closed at Rs279.38 on Thursday.

Interbank closing #ExchangeRate for today https://t.co/YPpMItAXT4#SBPExchangeRate pic.twitter.com/34gTh7i19e

— SBP (@StateBank_Pak) February 16, 2024

Earlier today, the SBP mentioned Pakistan’s total liquid foreign reserves, saying that the liquid foreign reserves were at US$ 13.15 billion till February 09, 2024.

It wrote, “Total liquid foreign #reserves held by the country stood at US$ 13.15 billion as of February 09, 2024. For details https://sbp.org.pk/ecodata/forex.pdf #SBPReserves,”.

Total liquid foreign #reserves held by the country stood at US$ 13.15 billion as of February 09, 2024. For details https://t.co/WpSgomnd3v#SBPReserves pic.twitter.com/oun2W2DUMJ

— SBP (@StateBank_Pak) February 16, 2024

On other hand, there is huge pressure on the public as the prices of the basic needs are touching the sky. According to the exports, the political unrest and instability is one of the major reasons behind falling economy, and they warned of strict actions to save it in the days to come.