The devaluation of the Pakistani rupee in the interbank continued on Monday after it fell to a record low in the interbank against the US dollar, ARY NEWS reported.
According to forex dealers, the US dollar rose by Rs1.65 in the interbank to trade at Rs204. In the open market, the dealers said that it traded between Rs 204 and Rs 207.
The Pakistani rupee extended its downward trend against the US dollar in the interbank market on Friday.
According to forex dealers, the local unit depreciated by 1.73 rupees versus the greenback in the interbank market to trade at Rs 202.50 at 12:10 pm. The US dollar is being sold at over Rs206 in the open market, they said.
The State Bank of Pakistan (SBP) on Thursday shared that the liquid foreign reserves in Pakistan have declined by over $590 million during the week ended on June 3, ARY News reported.
According to details shared by the SBP, the total liquid foreign reserves held by the country stood at $ 15.17 billion on June 3.
Sharing a break-up of the foreign reserves position, the central bank said that the reserves held by the State Bank of Pakistan stand at US$9.22 billion while commercial banks also have reserves of US$5.95 billion.