ISLAMABAD: The bullish trend continued in the Pakistani Rupee for the 19th consecutive session as the local currency gained 98 paisa against the American dollar in the interbank trading and closed at Rs286.76 against Rs287.74 on the previous day’s closing as reported by State Bank of Pakistan (SBP).
Interbank closing #ExchangeRate for today https://t.co/45oRSCNJQR#SBPExchangeRate pic.twitter.com/h1eONdqIYg
— SBP (@StateBank_Pak) October 2, 2023
Meanwhile, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the greenback in the open market also witnessed improvement and settled at Rs283.7 and Rs286.5 respectively.
During the last three weeks, the local currency has improved significantly as it witnessed an appreciation of over Rs22 in the interbank and over Rs45 in the open market.
Pakistani Rupee Against Euro- Pound and Others
Like the greenback, other international currencies against the Pakistani Rupee received the same treatment of depreciation both in the interbank and in the open market except the Euro. The price of the Euro witnessed an increase of 46 paisa to close at Rs302.90 against Rs302.44 on the previous day as reported by SBP.
However, the Japanese Yen went down by 01 paisa to settle at Rs1.91, whereas the British Pound recorded a decrease of 36 paisa and was traded at Rs349.50 as compared to Rs349.86 on Friday.
The exchange rates of the Saudi Riyal and the Emirates Dirham went down by 26 paisa each to close at Rs76.45 and Rs78.07 respectively.
