Pakistani rupee loses ground against US dollar in interbank

KARACHI: The Pakistani rupee depreciated against the US dollar in the interbank market on Wednesday after witnessing a slight recovery in the past two sessions.

According to the State Bank of Pakistan (SBP), the Pakistan rupee weakened by Rs 1.26 against the dollar in the interbank trading to close at Rs 279.12 against the previous day’s closing of Rs 277.86.

Interbank closing #ExchangeRate for todayhttps://t.co/5sHQhN1xXJ pic.twitter.com/NOwSdbAV39

— SBP (@StateBank_Pak) March 8, 2023

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 278.2 and Rs 281 respectively.

Moreover, the price of the Euro decreased by Rs 2.94 and closed at Rs 294.19 against the last day’s closing of Rs 297.13, according to the State Bank of Pakistan (SBP).

The Japanese Yen decreased by 02 paisa to close at Rs 2.02, whereas a decrease of Rs 5.13 was witnessed in the exchange rate of the British Pound, which was traded at Rs 329.97 as compared to its last day’s closing of Rs 335.10.

The exchange rates of the Emirates Dirham and Saudi Riyal decreased by 34 paisa and 32 paisa to close at Rs 75.99 and Rs 74.35 respectively.