“Pakistani Rupee Devalues by Rs 1.35 Against US Dollar in Interbank Trading”
In interbank trading on Monday, the Pakistani rupee experienced a depreciation of Rs 1.35 against the US dollar, concluding at Rs 297.13 in contrast to the previous day’s closing rate of Rs 295.77, as reported by the Forex Association of Pakistan (FAP).
In the open market, the buying and selling rates for the US dollar were Rs 304 and Rs 308, respectively, according to FAP.
Furthermore, the Euro’s price increased by Rs 1.85, closing at Rs 323.45 compared to the previous day’s closing rate of Rs 321.60, as stated by the State Bank of Pakistan (SBP).
The Japanese Yen experienced a marginal increase of 01 paisa, concluding at Rs 2.04. Additionally, the British Pound’s exchange rate saw an increment of Rs 2.11, closing at Rs 378.16, contrasting with the previous day’s closing rate of Rs 376.05.
The exchange rate for the Emirates Dirham and the Saudi Riyal also rose by 37 paisa each, ending at Rs 80.89 and Rs 79.22, respectively.
Meanwhile, the Pakistan Stock Exchange (PSX) 100-index recorded a decline of 770.54 points, constituting a negative change of 1.60 percent, closing at 47,447.96 points, compared to 48,218.50 points in the previous trading session.