Pakistani rupee gains strength against USD

ISLAMABAD: Pakistani Rupee on Friday gained 10 paisa against the US dollar in the interbank trading and closed at Rs 278.38 against the previous day’s closing of Rs278.48.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 277.25 and Rs 279.8 respectively.

The price of the Euro increased by 20 paisa and closed at Rs 298.87 against the last-day closing of Rs 298.67, according to the State Bank of Pakistan (SBP).

The Japanese Yen remained unchanged at Rs1.78, whereas an increase of 07 was witnessed in the exchange rate of the British Pound, which was traded at Rs348.48 compared to the last closing of Rs348.41.

Read more: Roshan Digital Account inflows soar to $7.660 bln in March 24

The Emirates Dirham and the Saudi Riyal decreased by 03 and 02 paisa to close at Rs75.79 and Rs74.22 respectively.

The inflow of remittances under the Roshan Digital Account (RDA) rose to $7.660 billion by the end of March 2024 as compared to $7.478 billion by February (2024) end, according to the latest data released by the State Bank of Pakistan (SBP).

The data showed that the inflows of remittances during the month of March were recorded at US$ 182 million as compared to US$ 141 million in February and US$ 142 million in January 2024.

These accounts provide innovative banking solutions to millions of Non-Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment, and investment activities in Pakistan.