Technology
Pakistani rupee rises, Euro declines in Forex market
The Forex Association of Pakistan (FAP) says the buying rate for the Dollar stands at Rs.280.2, while the selling rate is reported at Rs.282.35.
Karachi: The Pakistani rupee (PKR) on Wednesday demonstrated a positive trend against the US dollar in the interbank market.
The forex dealers reported a significant 50-paisa appreciation in the rupee's value against the greenback, bringing the current exchange rate to Rs.179.75.
Interbank closing #ExchangeRate for today https://t.co/WJElrYVEab#SBPExchangeRate pic.twitter.com/EZ92PM6bco
— SBP (@StateBank_Pak) January 17, 2024
This marks a noteworthy contrast to the previous session, where the Pakistani rupee remained stable against the US dollar, closing at Rs.280.25. The positive momentum is seen as a welcome change in the forex landscape, reflecting potential stability in the local currency.
However, insights from the Forex Association of Pakistan (FAP) indicate slightly different dynamics in the open market. According to FAP, the buying rate for the Dollar stands at Rs.280.2, while the selling rate is reported at Rs.282.35.
In addition to the PKR's performance, other major currency rates were also observed. The Euro experienced a decline of Rs1.17, concluding at Rs.305.91 in contrast to the previous day's rate of Rs.307.08, as reported by the State Bank of Pakistan (SBP).
Simultaneously, the exchange rate of the British Pound exhibited a decrease of Rs.2.14, trading at Rs.355.06 against the previous closing rate of Rs.357.20. The Japanese Yen saw a minor loss of 01 paisa, settling at Rs.1.91.
-
Pakistan 1 day ago
PTI, SIC Parliamentary Party consult on important issues in joint meeting
-
Regional 2 days ago
Interior Minister reviews security arrangements for Muharram 9 procession
-
Weather 2 days ago
Monsoon rains predicted for Karachi and Sindh this Week
-
Pakistan 1 day ago
IHC declares Sanam’s arrest illegal, disposes of petition
-
Sports 2 days ago
Women Asia Cup 2024: Pakistan’s squad departs for Sri Lanka
-
Pakistan 1 day ago
National Drug Survey to be conducted after 11 years in Pakistan
-
Entertainment 1 day ago
Hina Khan opens up about her battle with breast cancer
-
Technology 1 day ago
WhatsApp introduces new favorite feature for users