ISLAMABAD: Appreciation of the Pakistani Rupee continued for the last seven to eight days as on Wednesday, the local currency witnessed a gain of Rs1.06 against the US dollar in the interbank trading and closed at Rs298.82 against Rs299.89 last day, as reported by the state bank of Pakistan.
Interbank closing #ExchangeRate for today https://t.co/MfoTzkTVkZ#SBPExchangeRate pic.twitter.com/pSllzOxdht
— SBP (@StateBank_Pak) September 13, 2023
Meanwhile, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market experienced no major change and were witnessed at Rs297 and Rs300, respectively.
The local currency witnessed a significant appreciation after the recent announcement by the caretaker government while having a crackdown against smugglers, moneylenders, and other unfair means. A few days before, the greenback was available against the local currency at over Rs307 in the interbank and over Rs330 in the open market.
Rupee Against Other Currencies
Like the greenback, the price of the Euro also went down and witnessed a decrease of 53 paisa to settle at Rs320.96 against the previous day’s closing of Rs321.49.
The Japanese Yen experienced a loss of 02 paisa to settle at Rs2.02, whereas the British Pound recorded a decrease of 1.84 in the exchange rate and was traded at Rs372.60 as compared to the closing of Rs374.44 on Tuesday.
The exchange rates of the Saudi Riyal and the Emirates Dirham went down by 29 paisa each to close at Rs79.66 and Rs81.35, respectively.
