On Monday, the Pakistani rupee depreciated by 17 paisa against the US dollar in interbank trading, closing at Rs 278.50 compared to the previous day’s closing of Rs 278.33. This slight decline marks another challenging day for the Pakistani rupee in the currency market.
Interbank Rates:
- US Dollar (USD):
- Closing rate: Rs 278.50
- Previous closing: Rs 278.33
Open Market Rates:
- US Dollar (USD):
- Buying rate: Rs 278.40
- Selling rate: Rs 280.05
According to the Forex Association of Pakistan (FAP), the dollar’s buying and selling rates in the open market were Rs 278.40 and Rs 280.05, respectively. The disparity between interbank and open market rates remains evident as traders navigate the fluctuations.
Other Currencies:
- Euro (EUR):
- The Euro saw a decrease of 13 paisa, closing at Rs 301.92 against the last day’s closing of Rs 302.05.
- Japanese Yen (JPY):
- The Japanese yen gained 01 paisa, closing at Rs 1.81.
- British Pound (GBP):
- The British pound experienced a decrease of Rs 1.25, trading at Rs 356.95 compared to the last day’s closing of Rs 358.20.
- Emirates Dirham (AED):
- The exchange rate increased by 05 paisa, closing at Rs 75.82.
- Saudi Riyal (SAR):
- The Saudi Riyal increased by 04 paisa, closing at Rs 74.23.
The currency market witnessed mixed trends today. While the rupee depreciated against the US dollar, it saw gains and losses against other major currencies. The Euro and British Pound both fell, while the Japanese Yen, Emirates Dirham, and Saudi Riyal showed minor increases. These fluctuations highlight the dynamic nature of the foreign exchange market and the continuous adjustments faced by the Pakistani rupee.
Stay updated with the latest currency trends and exchange rates as the market evolves.
Fahad is an entrepreneur and a marketing enthusiast who loves to write on trending topics. He loves travelling & playing tennis is what he does in his leisure time. He tweets @fahad164.
Email:- fahad164@gmail.com , fahad@themediaparadigm.com
