In the interbank currency market on Friday, the Pakistani rupee fell by one paisa versus the US dollar.
According to the State Bank of Pakistan (SBP), the local currency closed the day at Rs178.13 versus the US dollar, down one paisa from the previous closing of Rs178.12.
— SBP (@StateBank_Pak)
The rupee was valued at Rs178.12 against the US dollar on Thursday.
The SBP’s foreign currency reserves declined 2.23 percent in the week ended December 17, according to the central bank.
The SBP shared a breakdown of the foreign reserves situation, stating that the central bank’s foreign currency holdings were reported at $18,153.7 million, down $415 million from $18,568.3 million on December 10.
According to the report, the drop was mostly attributable to the repayment of foreign debt. The SBP reported that the country’s total liquid foreign currency reserves, including net reserves held by banks other than the SBP, was $24,633 million.