US dollar rises against Pakistani rupee

KARACHI: The United States (US) dollar posted gains against Pakistani rupee on Tuesday.

In the interbank market, the greenback closed at Rs176.23 against the local unit, as compared to the previous close of Rs175.75, according to the data of the State Bank of Pakistan (SBP).

It appreciated 48 paisas or 0.27 per cent during the session.

In the open market, the dollar closed at Rs177.20 against the rupee.

Earlier, the State Bank of Pakistan (SBP) said foreign direct investment (FDI) declined by 34.65 per cent year-on-year in January 2022.

Also Read: SBP reserves fall $241 million

January attracted the foreign investment of $110 million, down 34.65 per cent compared to Jan 2021. The decline was even higher at 49.70pc when compared to December 2021.

The highest inflow was received from China, which clocked in at $53.68 million, followed by $19.68 million from the United States (US).

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