Rupee on losing streak; sheds 59 paisa against US Dollar

F.P. Report

ISLAMABAD: Pakistani rupee on Thursday witnessed 59 paisa devaluation against the US dollar in the interbank trading and closed at Rs300.22 against the previous day’s closing of Rs299.63.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs314 and Rs317 respectively.

The price of the Euro increased by Rs1.87 to close at Rs326.16 against the last day’s closing of Rs324.29, according to the State Bank of Pakistan (SBP).

The Japanese Yen remained unchanged and stood at Rs2.06, whereas an in increase of Rs1.50 was witnessed in the exchange rate of the British Pound, which traded at Rs381.52 as compared to the last closing of Rs380.02.

The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 16 paisa and 32 paisa to close at Rs81.73 and Rs80.03 respectively.