Rupee bounces back; gains 13 paisa against dollar

Karachi: Pakistani Rupee on Friday gained 13 paisa against the US dollar in the interbank trading and closed at Rs 278.30 against the previous day’s closing of Rs278.43, after witnessing a nominal devaluation for the last few days.

 However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs277.6 and Rs280.35 respectively. The price of the Euro decreased by Rs1.05 to close at Rs296.43 against the last-day closing of Rs297.48, according to the State Bank of Pakistan (SBP).

The Japanese Yen remained unchanged to close at Rs1.80, whereas a decline of Rs1.06 was witnessed in the exchange rate of the British Pound, which was traded at Rs346.28 compared to the last closing of Rs347.34.

The Emirates Dirham and the Saudi Riyal went down by 04 paisa each to close at Rs75.77 and Rs74.18 respectively.