ISLAMABAD: Amid continued financial and political uncertainty, local markets and currency are struggling to hold ground as, like the downward trend in the Pakistan Stock Exchange, the Pakistan rupee also witnessed a downfall and lost by Rs1.25 against the American Dollar in the interbank trading on Monday and closed at Rs 285.04 compared to the last day closing of Rs 283.79.
According to the FAP (Forex Association of Pakistan), the buying and selling rates of the American dollar in the open market were Rs 285.15 and Rs 288, respectively.
Pak rupee against other currencies
Besides equating with the US dollar, the Pakistani rupee also witnessed depreciation against other international currencies. On Monday, the price of the Euro went up by 49 paisa and closed at Rs 308.89 compared to Rs 309.38 the last trading day, according to the State Bank of Pakistan (SBP).
Meanwhile. the Japanese Yen was closed at Rs 2.13 without any change, while British Pound experienced a decrease of 51 paisa in its exchange rate, and was traded at Rs 351.15 against Rs 351.66 on the last trading day.
The exchange rates of the Saudi Riyal and Emirates Dirham witnessed an increase of 34 paisa each to close at Rs 75.94 and Rs 77.66, respectively.
