ISLAMABAD: After a slight appreciation last day, the Pakistani Rupee witnessed further appreciation of 76 paisa on Friday against the American Dollar in the interbank trading to settle at Rs280.35 against Rs281.11 last day, reported by State Bank of Pakistan (SBP).
Meanwhile, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the greenback also witnessed a slight change and stood at Rs280 and Rs282 respectively.
Like the greenback, the price of the Euro also witnessed a decline and went down by 79 paisa to close at Rs307.84 against Rs308.63 last day, according to SBP.
However, the Japanese Yen witnessed no change and remained constant at Rs1.93, whereas the British Pound went down by 58 paisa in the exchange rate to settle at Rs358.18 compared to Rs358.76 on Thursday.
Like the British Pound, the price of the Emirates Dirham and the Saudi Riyal went down by 20 paisa each to close at Rs76.33 and Rs74.75 respectively.
Continues Appreciation of Pak Rupee
The Pakistani currency swung both way during the last couple of months with a recent continues appreciation. From the first week of September last, till middle of October 2023, the local unit appreciated for record 28 consecutive sessions against the US Dollar, followed by continues fall for 17th consecutive sessions from October till November 15.
However, from November 16, 2023 the Pakistani Rupee witnessed improvement with slight depreciation for just three consecutive days, that was turned around at the end of November last year and still floating in the same upward trend. During last two weeks, the local currency improved for over Rs 4 in the interbank against the American Dollar.
