With receding Forex reserves of Pakistan , the currency market is getting into a validity mode.
Pakistan Forex reserves have gone as low as $ 6.7 billion and its immediately affect is uncertainty in domestic market.
In interbank , UK pound sterling and Euro made massive gains on Friday-last day of the week.
Pound sterling gained Rs 2 in interbank on Friday . With this increase pound sterling to Rs 290. It had closed at Rs 288 on Thursday.
Pound sterling is gaining value in domestic currency for a number of working sessions but its gain pace has increased in the current week.
Similarly , euro is also on the gaming spree . Its value also saw a gain of Rs 1.50 on Friday.
With the latest increase euro jumped up to Rs 250 in interbank on Friday. Its last day value was Rs 248.50 .
Canadian dollar (CAD) also made handsome gain of one rupee. With the increase of one rupee, CAD jumped up to Rs 172 from its last day value of Rs 172.
US dollar is stable in the interbank and open market for the last couple of days. It also did not show any fluctuation in its rates against the rupee in interbank on Friday.
US dollar opened at Rs 224.20 in interbank and closed at the same value on Friday.
In open market , US dollar remained stable at Rs 229.70. US dollar is not showing any change in its value in open market .
Saudi Riyal and UAE dirham unlike other Major currencies showed downward trend in their value on Friday.
Saudi Riyal shed 20 paisa and it closed at Rs 63 against its last day value of Rs 63.20.
UAE dirham also showed downward trend in its value and its rates decreases from 65.15 to Rs 65.
