US dollar weakens by 7 paisas against Pakistani rupee

ISLAMABAD: The Pakistani rupee exhibited a modest gain of 7 paisa against the US dollar in interbank trading on Friday, concluding the session at Rs305.46, a slight improvement from the previous day’s closing rate of Rs305.53.

However, data provided by the Forex Association of Pakistan (FAP) indicated that the dollar was being traded at buying and selling rates of Rs329.5 and Rs332.5, respectively, in the open market.

According to the State Bank of Pakistan (SBP), the Euro saw a decrease of Rs1.18 paisa, closing at Rs331.52 compared to its previous closing rate of Rs332.70. Conversely, the Japanese Yen experienced a minimal increase of 1 paisa, settling at Rs2.10.

Dollar goes up, Reserves go down, economy goes round and round

Meanwhile, the British Pound witnessed a decline of 55 paisa in its exchange rate, concluding the trading day at Rs387.42, down from the previous day’s closing rate of Rs387.97.

In the foreign exchange market, the Emirates Dirham and the Saudi Riyal registered slight declines of 2 and 1 paisa, respectively, closing at Rs83.16 and Rs81.44.