Rupee weakens against US dollar and British pound
The Pakistani rupee weakened by 10 paisa against the US dollar on Tuesday in interbank trading, closing at Rs 278.27 compared to the previous day’s rate of Rs 278.17, as reported by the State Bank of Pakistan (SBP).
In the open market, the dollar was slightly more volatile. According to the Forex Association of Pakistan (FAP), the buying rate stood at Rs 277.80, while the selling rate was noted at Rs 279.30.
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The rupee’s performance against other major currencies saw mixed trends. The value of the euro recorded a slight decrease of 14 paisa, closing at Rs 292.14, compared to Monday’s rate of Rs 292.28.
On the other hand, the British pound experienced an increase of Rs 2. It traded at Rs 353.44, marking a rise from the previous day’s closing of Rs 351.44.
The exchange rate for the Japanese yen edged down by 1 paisa, closing at Rs 1.80.
Meanwhile, slight upward movements were observed for Gulf currencies. The Emirates Dirham increased by 3 paisa to close at Rs 75.76, while the Saudi Riyal rose by 4 paisa, settling at Rs 74.06.
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