ISLAMABAD: The downfall of the Pakistani Rupee continued, as on Tuesday, the local currency witnessed a loss of 60 paisa against the US Dollar in the interbank trading and closed at Rs 288.52 against Rs 287.92 last day.
Interbank closing #ExchangeRate for today https://t.co/jc1jUZCZZ3#SBPExchangeRate pic.twitter.com/uGBHBbFF5o
— SBP (@StateBank_Pak) July 25, 2023
Meanwhile, according to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market remained in the range of Rs 292 and Rs 294.5, respectively.
It is pertinent to mention here that one of the IMF conditions maintained that the parity of the Pakistan rupee against the dollar in the interbank and open market should not be more than Rs 1.5, which means the local currency in the interbank should be traded near Rs 290,5 and Rs 292 in context of the difference with the open market today.
Pakistani Rupee Against Other Currencies
Unlike the greenback, the price of the Euro went down by 03 paisa to close at Rs 318.98 against the last day’s closing of Rs 319.01.
However, the Japanese Yen recorded a gain of 01 paisa to settle at Rs 2.04, while the British Pound witnessed an increase of 68 paisa in the exchange rate and was available at Rs 370.70 compared to Rs 370.02 last day.
The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 17 paisa and 15 paisa to settle at Rs 78.55 and Rs 76.91, respectively.
