Pakistani rupee loses strength against US dollar

ISLAMABAD: Pakistani rupee on Friday depreciated by 06 paisa against the US dollar in the interbank trading and closed at Rs279.20 against the previous day’s closing of Rs279.26.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.75 and Rs 281.25, respectively.

The price of the Euro increased by 91 paisa to close at Rs292.26 against the last day’s closing of Rs291.09, according to the State Bank of Pakistan (SBP).

The Japanese yen went up and closed at Rs1.82, whereas an increase of Rs1.66 was witnessed in the exchange rate of the British Pound, which was traded at Rs351.03 as compared to the last day’s closing of Rs349.37.

The exchange rates of the Emirates Dirham and the Saudi Riyal came down by 02 each to close at Rs 76.01 and Rs 74.44, respectively.

Also read: Pakistan’s weekly inflation drops by 0.04pc

On the other hand, the exchange rate of the Saudi Riyal (SAR) against the Pakistani Rupee (PKR) remained unchanged at Rs74.36 in the open market on Friday, February 14, 2025.

The selling rate of the Riyal also remained constant as it is being sold for Rs74.75 on the last day of the ongoing business week.

The Saudi riyal is the official currency of Saudi Arabia. It is abbreviated as SAR, or SR. One Riyal is subdivided into 100 halalas.

The partnership between Pakistan and Saudi Arabia is marked by a long-established and mutually beneficial alliance, underscored by considerable financial assistance from the kingdom.

Last month Saudi Arabia also extended a $3 billion deposit placed with Pakistan for another year to continue bolstering the economy of the South Asian country.