Pakistani Rupee Continues Recovery, Gains Rs1.05 Against US Dollar

Tue Sep 19 2023
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ISLAMABAD: Recovery in the Pakistani Rupee continued for the 11th consecutive session as on Tuesday the local currency gained Rs1.05 against the US dollar in the interbank trading and closed at Rs 294.90 against Rs 295.95 on the previous day’s closing, as reported by State Bank of Pakistan.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market also witnessed a slight improvement and were traded at Rs 295.6 and Rs 298.5 respectively. Last day the dollar in the open market was trading in the range of Rs 296.1 and Rs 299.

Rupee Against Other Currencies

Like the greenback, the price of the Euro also recorded a decrease by 34 paisa to settle at Rs 315.28 against the last day’s closing of Rs 315.62, as reported by the SBP.

Last day the Japanese Yen remained unchanged, however on Tuesday, it also observed a decline by 01 paisa to close at Rs 1.99, whereas the British Pound witnessed a decrease of Rs 1.09 and was traded at Rs 365.32 against Rs 366.41 on Tuesday.

The exchange rates of the Saudi Riyal and the Emirates Dirham went down by 27 and 28 paisa to close at Rs 78.62 and Rs 80.29 and respectively.

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