Dollars poured into the Pakistan treasury

National foreign exchange reserves increase significantly in a week.

Dollars poured into the Pakistan treasury.

LAHORE: Dollars have been pumped into the national treasury with the country's foreign exchange reserves increasing significantly in a week. According to this analysis, the series of declines in national foreign exchange reserves has ended. Foreign exchange reserves increased significantly this week, according to a central bank report. Total foreign exchange reserves increased by $9.93 million.

Over the weekend ending December 8, the central bank's foreign exchange reserves increased from $26 million to $7.448 billion, according to data released by the State Bank of Pakistan. Meanwhile, deposits with commercial banks increased by $7.87 million to $5,165.6 million.

Thus, on December 1, total domestic foreign exchange reserves increased from $12.01 billion to $12.02 billion.

On the other hand, on the foreign exchange market, the rupee continues to appreciate. The value of the dollar against the rupee also declined in the interbank market on Thursday, while the value of the dollar remained stable in the open market. The rupee continued to depreciate against the dollar in the interbank market on Friday due to excess supply over demand. In the interbank market, the dollar depreciated by 26 paise to close at Rs 283 and 25 paise.

On the contrary, in the open foreign exchange market, the value of the dollar remained unchanged at 284 rupees and 50 paise. On Thursday, the value of Euro increased by 3.50 paise to Rs 311 and the value of British pound increased by Rs 3.50 to Rs 362, according to foreign exchange reports. According to the report, the selling price of Saudi Riyal fell by 20 paise to Rs 76, while the selling price of UAE Dirham remained unchanged at Rs 78.