Pakistani rupee strengthens against USD

KARACHI: After a marginal decline, the Pakistani Rupee on Tuesday experienced a gain of Rs 0.8 paisa against the US dollar in the interbank trading, closing at Rs 278.31 against the previous day’s closing of Rs 278.39.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market were recorded at Rs 277.35 and Rs 280 respectively.

However, the price of the Euro decreased by 42 paise, closing at Rs 297.96 against the previous closing of Rs 298.38, as reported by the State Bank of Pakistan (SBP).

The exchange rate of the Japanese Yen also decreased by 01 paise and closed at Rs1.77. However, there was a slight increase of 20 paise was witnessed in the exchange rate of the British Pound, reaching Rs348.99 compared to the last closing of Rs348.79.

The Emirates Dirham and the Saudi Riyal decreased by 02 paise each to close at Rs75.77 and Rs74.20 respectively.

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Last week, the Pakistani Rupee on Friday gained 10 paise against the US dollar in the interbank trading and closed at Rs 278.38 against the previous day’s closing of Rs 278.48.

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 paise 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.