Rupee sheds value against USD

Pakistani rupee on Monday depreciated by 03 paisa against the US dollar in the interbank trading and closed at Rs 277.86, SBP report said.

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 and Rs 280.7 respectively.

The price of Euro decreased by 1.79 paisa to close at Rs 308.40 against the last day’s closing of Rs 310.19, according to the State Bank of Pakistan (SBP).

The Japanese yen remained unchanged and closed at Rs1.93, whereas a decrease of Rs 1.29 was witnessed in the exchange rate of the British Pound, which traded at Rs368.52 as compared to the last day’s closing of Rs 369.81.

The exchange rate of the Emirates Dirham gained 01 paisa and closed at Rs 75.65 and the Saudi Riyal remained stagnant at Rs74.04.