Local currency settles at Rs170.53 against the US dollar in the inter-bank market with a gain of 0.20%.
The foreign exchange reserves held by the central bank drop by 0.65% on a weekly basis.
The rupee appreciates on the back of the measure taken by the central bank to curb the “undesirable” outflow of foreign currency.
Author: Ahmed Mukhtar Naqshbandi
Ahmed Mukhtar Naqshbandi
Media person and communication expert for over 25 years. Worked with Dow Jones News, World Bank, CNBC Pakistan, Aaj TV, ARY TV, Abbtakk TV, Business Recorder, Pakistan Observer, Online News Network, TTI Magazine and other local and world Publications.
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