The US dollar on Monday witnessed a meager dip of seven paisas against the Pakistani rupee, to reach Rs259.92 at the closing time of interbank trading.
In the early morning trading, the local currency had appreciated by 59 paisas.
Over the last week, the Pakistani rupee gained Rs2.83.
On the other hand, the local currency gained Re1 to reach Rs265 in the open market against the greenback.
The boost in the forex market was witnessed after Pakistan confirmed it had received $700 million from Chinese commercial banks. The money is a loan that Pakistan has obtained.
The central bank later said the country’s foreign exchange reserves had increased by $66 million to $3.26 billion.
As per the State Bank of Pakistan, the total liquid foreign reserves held by the country stood at $8.73 billion. Net foreign reserves held by commercial banks stood at $5.47 billion.
