KARACHI: Pakistani rupee shed 17 paisas (-0.11 percent) against the US dollar on Friday. According to the State Bank of Pakistan, the US dollar was opened at Rs158.93 and closed at Rs159.10. The dollar gained Re0.28 against the local currency during the last five days, as the previous week was concluded at Rs158.82 per USD. The rupee traded within a very narrow range of 25 paisa per USD showing an intraday high bid of 159.15 and an intraday Low offer of 158.95. Within the Open Market, PKR was traded at 158.80/159.50 per USD. Meanwhile, foreign exchange reserves position eased by $14.9 million to $20.058 billion by week ended February 12, 2021, State Bank of Pakistan (SBP) said. According to the central bank, its reserves decreased by $59.4 million due to external debt repayments. The foreign exchange reserves of the country were at $20.07 billion by week ended February 04, 2021. The official foreign exchange reserves of the central bank also fell by $59.40 million to $12.889 billion by week ended February 12, 2021 as compared with $12.949 billion a week ago. However, the foreign exchange reserves held by commercial banks witnessed an increase of $44.5 million to $7.168 billion by week ended February 12, 2021 as compared with $7.124 billion a week ago. TLTP
