Pakistani Rupee fluctuates against major currencies

The Pakistani Rupee showed a slight improvement against the US dollar in the interbank trading session on Tuesday, gaining 01 paisa to close at Rs277.93 compared to the previous day's closing of Rs277.94. However, in the open market, the dollar was being bought at Rs277.5 and sold at Rs280.5, as reported by the Forex Association of Pakistan (FAP).

Meanwhile, the Euro saw an increase of 54 paisa, closing at Rs301.61 in contrast to the previous day's Rs301.07, according to the State Bank of Pakistan (SBP). The Japanese Yen experienced a minor decrease of 01 paisa, settling at Rs1.82. On the other hand, the British Pound witnessed a significant rise of 72 paisa, reaching Rs351.69 from the previous closing of Rs350.97.

Conversely, the exchange rates for the Emirates Dirham and the Saudi Riyal remained unchanged, closing at Rs75.68 and Rs74.09, respectively.

In summary, the Pakistani Rupee displayed a mixed performance against major currencies, with slight fluctuations observed in the interbank and open market trading. The currency market continues to be influenced by various economic factors, impacting the exchange rates and overall financial landscape.