According to the State Bank of Pakistan, the US dollar was opened at Rs159.26 and closed at Rs158.93. The dollar gained Re0.11 against the local currency during the last four days.
Currency experts said that the inflows of the foreign currency into Roshan Digital Accounts, workers remittances and export receipts helped rupee make gains against the greenback. The inflows in Roshan Digital Account increased to $500 million. The experts hoped that the local currency would gain more value in coming days owing to positive sentiments prevailing over inflows from IMF and workers remittances.
Meanwhile, the foreign exchange reserves of the country stood at $20.07 billion by week ended on February 04, 2021, according to the State Bank of Pakistan (SBP). The official reserves of SBP stand at $12.95 billion while foreign exchange reserves maintained by commercial banks are $7.12 billion by week ended on February 04, 2021.
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