The value of Pakistani rupee further strengthened against the US dollar in the interbank market on August 5, 2022.
The US dollar traded at Rs 224.04 in interbank market at the close of the day on Friday with further depreciation by Rs 2.11 (0.93 percent).
Earlie the dollar had ended at Rs 226.15 in the interbank market on Thursday.
— SBP (@StateBank_Pak) August 5, 2022
The Director of the financial data and analytics web portal Mattis Global Saad Bin Naseer said that today the rupee is stable as the Country’s remittances are on their way, export earnings and remittances are accumulating and there is no interbank jitters.
Meanwhile, according to the State Bank of Pakistan (SBP), the Country’s total liquid foreign exchange reserves dropped by US$ 206 million.
On July 22, 2022, the liquid foreign reserves were US$ 14.4 billion and they reduced to US$ 14.21 billion by July 29.
Of total liquid foreign reserves held by the State Bank as of July 29, 2022, US$ 5,823 were held by Commercial Banks.
— SBP (@StateBank_Pak) August 4, 2022