Business
Pak Rupee depreciates nine paise against dollar
Local currency closes at Rs 278.60 against greenback
Karachi: (APP): The exchange rate of the Pakistan rupee witnessed a devaluation of nine paise against the US dollar in the interbank trading on Thursday and closed at Rs 278.60 against the previous day’s closing of Rs 278.51.
According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market, however, were Rs279.50 and Rs281.25 respectively.
The price of the Euro increased by 72 paise to close at Rs302.01 against the last day’s closing of Rs301.29, according to the State Bank of Pakistan (SBP).
The Japanese yen remained unchanged and closed at Rs1.72, whereas an increase of Rs2.17 was witnessed in the exchange rate of the British Pound, which was traded at Rs358.57 as compared to the last day’s closing of Rs356.40.
The exchange rates of the Emirates Dirham and the Saudi Riyal also increased by three paise each to close at Rs75.85 and Rs74.28 respectively.