KARACHI: The rupee ended slightly stronger on Friday due to a consistent rise in the foreign exchange reserves.The rupee closed at 279.77 against the dollar in the interbank market, up 0.01 per cent from its close at 279.8 in the previous session.
The rupee also appreciated in the open market. It traded at 280.82 per dollar, compared with 280.88 on Thursday.Dealers said that the local currency continued to appreciate, albeit marginally, bolstered by a steady increase in the central bank’s FX reserves, which rose by $13 million to $16.1 billion during the week ending January 23.
The SBP, which unexpectedly kept its key interest rate unchanged at 10.5 per cent on Monday, said in a monetary policy statement that a manageable current account deficit, coupled with sustained growth in remittances, has enabled it to build FX reserves primarily through market purchases.
The SBP bought $1.03 billion from the interbank market in October, similar to the previous month, to bolster its FX reserves and make external debt repayments. Over the past 12 months, from November 2024 to October 2025, the central bank’s total purchases from the market amounted to $6.9 billion.
