The rupee maintained its momentum against the dollar in the interbank market on Wednesday, increasing by Rs1.06 according to the State Bank of Pakistan.
The rupee has seen an upsurge in confidence as news of stringent administrative measures taken against black market dollar outflows to Afghanistan and Iran came to light.
Trade for the dollar closed at Rs288.75 in the interbank, 0.36pc lower than yesterday’s close of Rs289.80.
The rupee appreciated in the open market as well, rising by Rs1 against the greenback. The dollar was being traded at Rs290, according to the Exchange Companies Association of Pakistan.
The price of the Euro decreased by Rs 1.86 to close at Rs305.03 against the last day’s closing of Rs306.89, according to the State Bank of Pakistan (SBP).
The Japanese Yen came down by 01 paisa to close at Rs1.93, whereas a decrease of Rs 2.29 was witnessed in the exchange rate of the British Pound, which traded at Rs350.74 as compared to the last closing of Rs353.03.
The exchange rates of the Emirates Dirham and the Saudi Riyal declined by 28 paisa each to close at Rs78.61 and Rs76.97 respectively.
