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Dollar declines slightly against Pakistani rupee

KARACHI: The exchange rate of the Pakistani rupee strengthened by 81 paisas against the US dollar in the interbank trading and closed at Rs. 159.28 against the previous day’s closing of 160.09 on Wednesday.

According to the Forex Association of Pakistan, the buying and selling rates of the dollar in the open market were recorded at Rs. 160.7 and Rs. 161.6 respectively.

In interbank trading, the price of the euro depreciated by 22 paisas and closed at Rs. 189.82 against the last day’s trading of Rs. 190.04, State Bank of Pakistan reported.

The Japanese Yen lost two paisas to close at Rs. 1.52, whereas a decrease of Rs. 1.17 was witnessed in the exchange rate of the British Pound which was traded at Rs. 212.83 as compared to its last closing of Rs. 214.00.

The exchange rates of Emirates Dirham and Saudi Riyal decreased by 22 paisas each to close at Rs. 43.36 and Rs. 42.46 respectively.

Earlier, the Pakistani rupee had become Asia’s third best-performing currency after reaching six and a half month high of 158.9 against the US dollar.

The rupee closed at 159.09 in the inter-bank market, appreciating 18 paisas against the dollar during the session. It gained 30 paisas to settle at 158.8 against the dollar in the open market and was also up Rs10.2 or 5 percent from a low of 169 on November 10.