ISLAMABAD: After losing one-and-a-half-rupee last day, the downward trend of the Pakistani rupee continued with a devaluation of 63 paisa on Wednesday against the US dollar in the interbank trading and settled at closed at Rs299.66 against the previous day’s closing of Rs299.o1, as reported by the State Bank of Pakistan.
Interbank closing #ExchangeRate for today https://t.co/CpkjrksqU7#SBPExchangeRate pic.twitter.com/1pHVzanqXs
— SBP (@StateBank_Pak) August 23, 2023
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market reached the highest ever level at Rs313 and Rs316 respectively. In May 2023, the local currency was traded at the worst level in the open market and on May 10, 2023, it was traded in the range of Rs310 to Rs315.
Pak Rupee Against Other Currencies
However, unlike the greenback, the price of the Euro interestingly went down by Rs2.10 to settle at Rs324.29 as compared to Rs326.39 last day.
The Japanese Yen increased by 01 paisa and closed at Rs2.06, whereas the British went down by Rs2.32 to settle at Rs380.02 against Rs382.34 on Tuesday.
The exchange rates of the Saudi Riyal and the Emirates Dirham increased by 16 and 17 paisa to settle at Rs79.71 and Rs81.57.
