Pak Rupee falls against dollar in inter-bank

ISLAMABAD: The exchange rate of the Pakistani rupee slides down 02 paisas against the US dollar in the interbank trading on Wednesday.

According to the Forex Association of Pakistan, the rupee closed at Rs 165.60 as compared to the last closing of Rs165.62.

However, the buying and selling rates of the dollar in the open market were recorded at Rs 165 and Rs 166.5 respectively, according to the Forex Association of Pakistan.

The State Bank of Pakistan (SBP) reported that in interbank trading, the price of the euro depreciated by Rs 1.87 and closed at Rs 196.43 against the last day’s trading of Rs 198.26.

The Japanese Yen lost one paisa at Rs1.55, whereas a decrease of Rs 1.37 was witnessed in the exchange rate of the British Pound which was traded at Rs 220.86 as compared to its last closing of Rs 222.23.

The exchange rates of Saudi Riyal and Emirates Dirham also decreased by 01 paisa each to close at Rs 44.15 and Rs 45.08 respectively.

The demand for the dollar in the segment has been hit badly due to the lower import volumes.

On the other hand, inflows from the International Monetary Fund worth $1.386 billion from last week have increased the supply of the Greenup.