Rupee continues to recover against USD
- By Web Desk -
- Dec 19, 2023
ISLAMABAD: Pakistani Rupee on Tuesday witnessed the 6th consecutive recovery session as it gained 19 paisa against the US Dollar in the interbank trading and closed at Rs283.01 against the previous day’s closing of Rs283.20.
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the Dollar in the open market stood at Rs283.5 and Rs286.2 respectively.
The price of the Euro decreased by 05 paisa to close at Rs309.30 against the last day’s closing of Rs309.35, according to the State Bank of Pakistan (SBP).
Interbank closing #ExchangeRate for today https://t.co/scioByZPIM#SBPExchangeRate pic.twitter.com/MaaXQKRvKm
— SBP (@StateBank_Pak) December 19, 2023
The Japanese Yen came down by 02 paisa and closed at Rs1.96; whereas a decrease of Rs1.04 was witnessed in the exchange rate of the British Pound, which traded at Rs358.49 compared to the last closing of Rs359.53.
The exchange rates of the Emirates Dirham and the Saudi Riyal decreased by 05 paisa each to close at Rs77.06 and Rs75.44 respectively.
Earlier, the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) plunged over 2,600 points during intra-day trading on Tuesday.
Read more: PSX sheds over 2,600 points in intraday trade
According to the market, the PSX lost 2,633 points and the 100 index dropped below the 63,000 points mark. The market was reported trading at 62,571 around 2:30 pm.
The benchmark KSE-100 index maintained its bullish run for over a month, following the successful conclusion of a staff-level deal with the International Monetary Fund (IMF).