ISLAMABAD: On Tuesday, the Pakistani rupee experienced a gain of 71 paisas against the US Dollar (USD) in interbank trading, concluding the day at Rs 285.99 compared to the previous day’s closing rate of Rs 286.70.
However, as reported by the Forex Association of Pakistan (FAP), the open market rates for buying and selling dollars stood at Rs 287.5 and Rs 290 respectively.
Meanwhile, the State Bank of Pakistan (SBP) indicated that the price of the Euro rose by 71 paisas, closing at Rs 312.93 in contrast to the previous day’s rate of Rs 312.22.
In other currency updates, the Japanese Yen witnessed a minor decrease of one paisa, settling at Rs 1.99. On the other hand, the exchange rate of the British Pound showed a decline of Rs 1.05, trading at Rs 364.13 compared to the previous day’s closing rate of Rs 365.18.
Moreover, the exchange rates for the Emirates Dirham and the Saudi Riyal witnessed a decrease of 19 paisas each, closing at Rs 77.86 and Rs 76.25 respectively.
These fluctuations in currency exchange rates have implications for businesses and individuals involved in international trade and financial transactions. The Pakistani rupee’s performance in the foreign exchange market is closely monitored by market participants and economic analysts.
