Pakistani rupee depreciates against USD

KARACHI: The Pakistani rupee experienced a slight depreciation of Rs 0.19 against the US dollar in interbank trading, closing at Rs 278.64, down from the previous day’s rate of Rs 278.45, ARY News reported on Thursday.

In the open market, the Forex Association of Pakistan (FAP) reported the buying and selling rates of the dollar at Rs 278.5 and Rs 280, respectively.

Meanwhile, the Euro saw a decrease of Rs 1.13, closing at Rs 309.59 compared to the previous day’s rate of Rs 310.72, according to the State Bank of Pakistan (SBP). The Japanese yen remained stable at Rs 1.92.

The British Pound also experienced a slight drop of 38 paisa, closing at Rs 368.07, down from Rs 368.45. In contrast, the exchange rates for the Emirates Dirham and the Saudi Riyal saw a minor increase of Rs 0.05 each, closing at Rs 75.86 and Rs 74.25, respectively.