ISLAMABAD: Pakistani rupee witnessed a mild decline against the US dollar (USD) in the interbank with a devaluation of 29 paisa on Friday and closed at Rs285.67 against Rs285.38 last day.
Interbank closing #ExchangeRate for today https://t.co/NjFI6c4g1x#SBPExchangeRate pic.twitter.com/MgooqBVYc6
— SBP (@StateBank_Pak) June 2, 2023
On the other hand, buying and selling prices of the greenback in the open market were witnessed in the range of Rs299 and Rs302, as reported by the Forex Association of Pakistan.
However, consumers still complain about the rates and availability of dollars in the open market and said one can hardly get a dollar below Rs306.
Pak Rupee Versue Other Currencies
The price of the Euro also went up and appreciated by Rs2.86 to close at Rs307.53 against Rs304.67 on Thursday, as reported by the State Bank of Pakistan (SBP).
The Japanese Yen witnessed a mild increase by 01 paisa and closed at Rs2.05, whereas the British Pound recorded an increase of Rs3.15 and traded at Rs357.86 as compared to Rs354.71 on the last trading day.
The Saudi Riyal and Emirates Dirham exchange rates increased by 08 paisas each to settle at Rs76.16 and Rs 77.77, respectively.
Last day, after some measures taken by theSBP regarding the availability of dollars to commercial banks, the greenback rate in the open market declined by 16 to 20 rupees. However, at the same time, SBP reported a sharp decline of over $200m in foreign reserves last week, raising eyebrows about financial uncertainty in the country.
