Islamabad, 23 August 2024 (TDI): On Friday, the last day of the trading week, the value of the Pakistani Rupee increased by 12 paisa’s in relation to the US dollar in interbank trade.
In interbank trading, the value of the US dollar increased to Rs278.55 paisa.
The latest statistics from the State Bank of Pakistan shows a notable rise in the country’s foreign exchange reserves.
A much-needed boost to the nation’s economy, the reserves have increased by $1.92 million to $9.29 billion.
The amount of deposits in commercial banks has also increased, rising by $3 million to $5.037 billion. The entire rise in domestic foreign exchange reserves as a result of this has been $2.2 million.
Also read: US Dollar Continuously Rising Minutely Against Pakistani Rupee
With $14.066 billion in total dollar reserves, the nation is showing potential for sustained economic stability.
The rupee can be stabilized, inflation can be managed, and external shocks can be absorbed by the larger foreign exchange reserves. Regarding Pakistan’s economic development and progress, it’s a positive move.
