Dollar declines slightly against Pakistani rupee

SBP forex reserves hit near 8-year low at $5.821bn

KARACHI: The exchange rate of the Pakistani rupee strengthened by 18 paisas against the US dollar in the interbank trading and closed at Rs. Rs 159.06 against the previous day’s closing of Rs 158.88 on Tuesday.

According to the Forex Association of Pakistan, the buying and selling rates of dollars in the open market were recorded at Rs158.8 and Rs159.5 respectively.

In interbank trading, the price of the euro appreciated by 75 paisas and closed at Rs193.18 against the last day’s trading of Rs 192.43, State Bank of Pakistan reported.

The Japanese Yen gained one paisa to close at Rs1.51, whereas an increase of 99 paisas was witnessed in the exchange rate of the British Pound which was traded at Rs223.63 as compared to its last closing of Rs222.64.

The exchange rates of Emirates Dirham and Saudi Riyal declined by 05 paisas each to close at Rs 43.25 and Rs 42.36 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.

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