US dollar continues climb against Pak rupee, edges up to Rs168.35 in interbank

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US dollar continues climb against Pak rupee

KARACHI: The United States (US) dollar gained Rs0.48 against the Pakistani rupee in the interbank market on Monday.

According to forex dealers, the greenback is currently trading at Rs168.35 against the domestic currency at the interbank foreign exchange market.

On August 6, the State Bank of Pakistan (SBP) announced an increase of United States Dollar (USD) 567 million in the liquid foreign reserves of the country.

Detailing the position of the reserves at the end of the week on 30 July, the SBP said that the overall foreign reserves stood at US$ 19,562.9 million in the country.

Giving its breakup, the central bank said that it holds the reserves of US$12,542.2 million as compared to the foreign exchange of US$ 7,020.7 million held by the commercial banks.

The SBP statement said that during the week ended 30-July-2020, its reserves increased by US$ 567 million to US$ 12,542.2 million.

“This increase is attributed to inflows from multilateral and bilateral agencies including US$ 505.5 million received from the World Bank.”

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