ISLAMABAD: After continuing a losing streak for 8 days, the Pakistani Rupee on Wednesday got strength and gained Rs 1.49 against the American Dollar in the interbank trading and closed at Rs 287.04 against Rs 288.52 last day, reported by the State Bank of Pakistan.
Interbank closing #ExchangeRate for today https://t.co/8rtZjpJBAy#SBPExchangeRate pic.twitter.com/pr9rZimpa0
— SBP (@StateBank_Pak) July 26, 2023
Meanwhile, according to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market also improved slightly and stood in the range of Rs 291.5 and Rs 294, respectively.
Two weeks before, after Pakistan managed to strike a $3bn Standby Arrangement (SBA) deal with the IMF, the local currency was appreciated and was available in the market in the range of Rs 276 to Rs 278.
Pakistani Rupee Against Euro, Pound, Riyal
Like the greenback. the price of the Euro also went down by Rs 1.22 to settle at Rs 317.76 against the last day’s closing of Rs 318.98, while the Japanese Yen remained unchanged and settled at Rs 2.04.
Like Euro and US Dollar, the British Pound also witnessed a decline of 32 paisa in the exchange rate and was traded at Rs 370.38 compared to Rs 370.70 on Tuesday.
The exchange rates of the Saudi Riyal and Emirates Dirham also went down by 39 paisa and 41 paisa to close at Rs 76.52 and Rs 78.14, respectively.
