ISLAMABAD: The exchange rate of Pakistani rupee destabilized by 32 paisas against the US dollar in the interbank on Monday to close at Rs. 163.62 as compared to the last closing of Rs. 163.30 a US dollar.
Although, according to the Forex Association of Pakistan, the buying and selling rates of the dollar in the open market were recorded at Rs. 163.5 and Rs. 164.5 respectively.
The State Bank of Pakistan reported that in interbank, the price of Euro appreciated by 49 paisas to close at Rs. 184.96 against the last day’s trading of Rs. 185.45.
The Japanese yen remained stable at Rs. 1.49 whereas an increase of 93 paisas was witnessed in the exchange rate of British Pound which was traded at Rs. 207.63 as compared to its last closing of Rs. 206.70.
The exchange rates of Saudi Riyal and Arab Emirates Dirham increased by 09 paisas each to close at Rs. 43.58 and Rs. 44.54 respectively.
In this regard, Pakistani economists asserted that the positive sentiments prevailed in the market due to the significant decline in international oil prices which would also help reduction in Pakistan’s oil import bill.