KARACHI           -            The Pakistani rupee gained 36 paisas to settle at Rs154.48 against the US dollar in the interbank market during the month of January. According to foreign currency dealers, the local unit ended at a seven-month high of 154.48 against the greenback last month. In the open market, the rupee appreciated by 50 paisas to clock in at Rs154.50 against the dollar from Rs155. The rupee remained stable against the dollar due to a number of factors, including the rising exchange reserves of the country and sluggish dollar demand. Foreign exchange reserves of the State Bank of Pakistan (SBP) increased by $184 million to $11.915 billion during the week ended on Jan 24. According to the SBP’s weekly figures released on Thursday, the country’s foreign exchange reserves increased by $91m to $18.362b during the same period. However, the commercial bank reserves fell during the week falling by $92m to $6.447bn.

He lauded the role of OICCI for promoting Pakistan to potential foreign investors during the Chamber’s regular interaction with foreign business and governmental delegations and senior diplomats based in and outside Pakistan.

Shazad also appreciated the quality of OICCI business climate/perception surveys, the Chamber’s focused and continuing advocacy efforts for streamlining the taxation system, giving practical policy input for increasing the efficiency of energy sector, initiatives on women empowerment and gender equality, the Chamber’s role in improving the security environment, and in taking the Intellectual Property Rights regime in Pakistan to a higher level, which included the publication of a comprehensive IPR manual for the benefit of all innovators and brand owners.