Islamabad, Aug 23: On Friday, the final day of the trading week, the value of the Pakistani Rupee increased by 12 paisas in relation to the US dollar in interbank trade. In interbank trade, the US dollar increased to Rs278.55 paisas.
The most recent statistics from the State Bank of Pakistan shows a notable rise in the country’s foreign exchange reserves.
The reserves have increased by $1.92 million to $9.29 billion, which is a much-needed boost to the national economy.
Deposits at commercial banks have increased as well, rising by $3 million to $5.037 billion. The overall amount of domestic foreign exchange reserves has increased by $2.2 million as a result of this.
Pakistan’s total dollar reserves are at $14.066 billion, which is encouraging for the stability of the country’s economy.
Increasing foreign exchange reserves can assist keep inflation under control, stable the rupee, and provide as a buffer against outside shocks. It’s a positive move for Pakistan’s economic expansion and advancement.
