Pakistani rupee loses strength against US dollar

ISLAMABAD: Pakistani rupee on Thursday depreciated by 07 paisa against the US dollar in the interbank trading and closed at Rs 278.23 against the previous day’s closing of Rs 278.16.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 277.75 and Rs 279.25 respectively.

The price of Euro increased by 49 paisa to close at Rs 292.60 against the last day’s closing of Rs 292.11, according to the State Bank of Pakistan (SBP).

The Japanese yen remained unchanged and closed at Rs1.82, whereas an increase of 63 paisa was witnessed in the exchange rate of the British Pound, which traded at Rs355.11 as compared to the last day’s closing of Rs354.48.

The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 02 and 03 paisa to close at Rs75.75 and Rs74.04, respectively.

Also read: Bitcoin to Pakistani Rupee rates

The buying rate for the Omani Rial to Pakistan rupee (PKR) rose to Rs 718.35, while the selling rate was noted at Rs 726.85 in the open market on Thursday, December 12, 2024.

The information provided on the currency website indicated that the Omani Rial appreciated by 45 paisas in relation to the Pakistani rupee within the open market.

The Omani Rial denoted as OMR, serves as the official currency of Oman and is subdivided into 1,000 smaller units called baisa.

Conversion of 500 Omani Rial to PKR

On December 12, the prevailing exchange rate suggests that 500 Rial is equivalent to Rs. 359,175 whereas 1,000 OMR amounts to Rs. 718,350 in Pakistani currency.

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