Last Updated on: 25th June 2023, 04:26 pm
The Pak Rupee gained 80 paisas against the US dollar in the open market and traded around 154 rupees.
The buying price of $1 to PKR was Rs 154.30 and the sale of US dollars on Wednesday was Rs 154.80.
On the other hand, Pakistan’s foreign exchange reserves increased by $308 million to $23.52 billion.
Also Read: Pak rupee depreciates against the US dollar
One forex exchange trader said, “Today demand was lower, but supply was healthy in the holy month of Ramazan due to heavy remittances from Pakistani workers overseas.”
He said that exporters’ sales of US dollar trucking companies also support the rupee. Experts also believe that news of Japan’s nearly $370 million debt relief from Pakistan under the G20 DSSI initiative also contributed to the positive sentiment for the Pakistani rupee.
Interbank closing #ExchangeRate for today:https://t.co/lYiG2rVzyF pic.twitter.com/l6aE238TQq
— SBP (@StateBank_Pak) April 29, 2021
SBP’s reserves increased $384 million to $16,427 billion, while reserves of other banks fell $76 million to $7,092 billion.
