Pakistan rupee gains strength against US dollar

ISLAMABAD: Pakistani rupee on Wednesday appreciated by 08 paisa against the US dollar in the interbank trading and closed at Rs 278.04 against the previous day’s closing of Rs 278.12, ARY News reported.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.20 and Rs 280.70 respectively.

The price of Euro increased by 18 paisa to close at Rs 309.47 against the last day’s closing of Rs 309.29, according to the State Bank of Pakistan (SBP).

The Japanese yen decreased by 03 paisa and closed at Rs1.95, whereas an increase of 39 paisa was witnessed in the exchange rate of the British Pound, which traded at Rs366.97 as compared to the last day’s closing of Rs366.58.

The exchange rates of the Emirates Dirham and Saudi Riyal decreased by 02 paisa and 03 paisa to close at Rs 75.70 and Rs74.07 respectively.

On September 16, Pakistani rupee (PKR) gained value by 04 paisa against the US dollar in the interbank trading and closed at Rs 278.12.

The buying and selling rates of the dollar in the open market stood at Rs 278.90 and Rs 280.75 respectively.

As per State Bank of Pakistan (SBP), the price of Euro increased by 77 paisa to close at Rs 309.29 against the last day’s closing of Rs 308.52.