ISLAMABAD: Pakistani Rupee witnessed a devaluation of Rs1.46 on Tuesday against the US dollar in the interbank and closed at Rs307.10 against the previous day’s closing of Rs305.64, as reported by the State Bank of Pakistan.
Interbank closing #ExchangeRate for todayhttps://t.co/FINffr34QO#SBPExchangeRate pic.twitter.com/lqTVJy7m1k
— SBP (@StateBank_Pak) September 5, 2023
However, on the other hand, the local currency witnessed a sharp improvement in the open market, narrowing the gap with the interbank. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the greenback in the open market stood at Rs320.8 and Rs324 respectively. In the last couple of days, the local currency ranged in the level of Rs330 to Rs 335 and even above in the open market.
Rupee Against Other Currencies
Like the greenback, the price of the Euro also witnessed appreciation in the interbank and increased by 09 paisa to settle at Rs330.13 against Rs 330.04 last day, as per reports by the SBP.
The Japanese Yen experienced no change and settled at Rs 2.08, whereas the British Pound recorded a decrease of 74 paisa in the exchange rate and was trading at Rs 385.22 against Rs 385.96 on Monday.
The exchange rates of the Saudi Riyal and the Emirates Dirham went up by 39 paisa each to close at Rs 81.87 and Rs 83.60, respectively.
