ISLAMABAD: After an upward trend till last week, the Pakistani Rupee appeared to be in the red zone from the start of the week with depreciation and witnessed a decline of Rs1.91 (0.68%) against the US Dollar (USD) in the interbank trading and closed at Rs 279.80 against Rs 277.90 the previous working day.
Interbank closing #ExchangeRate for today https://t.co/9NkXNq0O3o#SBPExchangeRate pic.twitter.com/sEONrzxoFM
— SBP (@StateBank_Pak) July 10, 2023
Last week, the local currency registered a substantial gain of 2.91 % against the US dollar as the finalization of the Stand-By Arrangement (SBA) with the International Monetary Fund (IMF) fresh impetus to the local currency. Meanwhile, on Friday, the rupee settled at 277.9 in the inter-bank market, with a significant gain in the open market between 279 and 282.
Meanwhile, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the greenback in the open market on Monday settled at Rs 281 and Rs 284, respectively.
Pakistani Rupee Against Other Currencies
Like the greenback, the price of the Euro also went up Rs 4.34 to close at Rs 306.58 compared to Rs 302.24, against the last day’s closing.
Meanwhile, the Japanese Yen increased by 03 paisa to close at Rs1.96, while the British Pound experienced an increase of Rs 4.59 in the exchange rate and was traded at Rs 358.51 as compared to its last day’s closing of Rs 353.92.
The exchange rates of the Saudi Riyal and Emirates Dirham witnessed an increase of 51 and 52 paisa to close at Rs74.58 and Rs76.17, respectively.
