KARACHI: Despite no visible change in the overall economic situation, the rupee recovered another 71 paise against the US dollar in the interbank market on Friday.
The State Bank of Pakistan (SBP) reported dollar closing price at Rs281.71. Bankers said there was no reason for appreciation but the hopes for better days ahead were there.
Meanwhile, Finance Minister Ishaq Dar on Friday said that the SBP had received $500 million from the Industrial and Commercial Bank of China (ICBC).
“State Bank of Pakistan has received today in its account from Chinese bank ICBC US$500 million. It will shore up forex reserves of Pakistan”, the minister said in a tweet.
A day earlier, the central bank reported that its reserves during the week ended on March 10 slightly rose to $4.319 billion.
Published in Dawn, March 18th, 2023
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