Pakistani rupee gains 20 paisa against USD

KARACHI: The Pakistani Rupee strengthened by 20 paisa against the US Dollar in interbank trading on Friday, closing at Rs 278.20, compared to the previous day’s closing of Rs 278.40.

According to the Forex Association of Pakistan (FAP), the Dollar’s buying and selling rates in the open market were Rs 277.50 and Rs 280.20, respectively.

The Euro’s value dropped by 86 paisa, ending at Rs 301.84, down from the previous closing of Rs 302.70, as reported by the State Bank of Pakistan (SBP).

READ: The Value of the US Dollar: Understanding the Factors that Determine its Rate

The Japanese Yen decreased by 2 paisa, closing at Rs 1.78. The British Pound saw a decline of Rs 1.06, trading at Rs 351.94, compared to the last closing of Rs 353.00.

Additionally, the exchange rates for the Emirates Dirham and Saudi Riyal each fell by 4 paisa, ending at Rs 75.74 and Rs 74.18, respectively.