Pak rupee remains stable against dollar

KARACHI: The exchange rate of Pakistani rupee has remained unchanged against the US dollar in the interbank trading and closed at Rs168.37.

According to the Forex Association of Pakistan, the buying and selling rates of the dollar in the open market were recorded at Rs168.2 and Rs 168.8 respectively.

The State Bank of Pakistan reported that in interbank trading, the price of euro appreciated by 04 paisas to close at Rs198.96 against the last day’s trading of Rs198.92.

The Japanese Yen lost one paisa to close at Rs1.58, whereas a decrease of 03 paisas was witnessed in the exchange rate of British Pound which was traded at Rs 222.27 as compared to its last closing of Rs 220.30.

The exchange rates of Saudi Riyal and Emirates Dirham also remained unchanged at Rs 44.89 and Rs 45.84 respectively.

Vast monetary easing measures put in place by the Federal Reserve, pushing the dollar lower against most other currencies, has added to its attractiveness.

Demand for the commodity has also helped silver more than double in value from its March lows, up to four percent Monday at $24.10 an ounce.