ISLAMABAD: After observing a loss of 48 paisa last day, the Rupee bounced back to recover the previous day loss and witnessed a gain of 45 paisa on Wednesday against US dollar in the interbank trading.
It was closed at Rs287.46 compared to Rs 287.91 on previous, as reported by State Bank of Pakistan.
Interbank closing #ExchangeRate for today https://t.co/I4yOfu9vbF#SBPExchangeRate pic.twitter.com/mrdsYLhGnx
— SBP (@StateBank_Pak) August 9, 2023
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the greenback in the open market witnessed a negligible change and almost remained close to the last day level in the range of Rs 293.8 and Rs 296.7 respectively.
Rupee against other currencies
Like the greenback, the price of the Euro also observed a decline by 26 paisa to close at Rs 315.75 against Rs316.01 on Tuesday.
The Japanese Yen also lost 01 paisa to close at Rs2, whereas a the British Pound recorded a decrease of 5 paisa and was traded at Rs367.09 compared to Rs 367.14, last day.
The exchange rates of the Saudi Riyal and the Emirates Dirham depreciated by 12 paisa each to close at Rs76.62 and Rs78.26 respectively.
The local currency observed its worst status in May 2023, where one dollar was equivalent to Rs 290 in the interbank and at Rs310 and above in the open market.
