Pakistani Rupee Gains Strength in Currency Market

The Pakistani Rupee showed a positive trend in the currency market on Tuesday. In the interbank trading, the Rupee gained 08 paisa against the US dollar, closing at Rs 278.31 compared to the previous day’s closing of Rs 278.39. Meanwhile, in the open market, the buying rate for the dollar was Rs 277.35 and the selling rate was Rs 280, according to the Forex Association of Pakistan (FAP).

Furthermore, the Euro also saw a decrease in its price by 42 paisa, closing at Rs 297.96 as reported by the State Bank of Pakistan. The Japanese Yen experienced a minor decrease of 01 paisa, closing at Rs 1.77. On the other hand, the British Pound witnessed an increase of 20 paisa, trading at Rs 348.99 compared to the previous closing of Rs 348.79.

Moreover, the Emirates Dirham and the Saudi Riyal both saw a decrease of 02 paisa each, closing at Rs 75.77 and Rs 74.20 respectively. These fluctuations in the exchange rates reflect the ongoing dynamics in the global currency markets.

The currency market in Pakistan exhibited mixed trends with the Rupee strengthening against the US dollar while experiencing fluctuations against other major currencies. Investors and analysts continue to monitor these developments closely to assess the impact on the economy and trade activities.