Rupee continues upward trend against dollar

Dollar rates 29th January 2024: Pakistani Rupee Sees Slight Devaluation Against the Dollar

In the realm of currency trading, the Pakistani Rupee experienced a minor devaluation of 05 paisa against the US Dollar on Monday. The interbank trading concluded with the Rupee closing at Rs279.64, slightly lower than the previous day’s closing of Rs279.59.

Contrary to the interbank rates, the Forex Association of Pakistan (FAP) reported buying and selling rates of the Dollar in the open market at Rs279.5 and Rs281.6, maintaining a slight difference.

Shifting focus to other major currencies, the Euro saw a price increase of 51 paisa, closing at Rs302.97 against the previous day’s Rs302.46, as per the State Bank of Pakistan (SBP) records.

The Japanese Yen, on the other hand, remained stable, maintaining its value at Rs1.89. Meanwhile, the British Pound experienced a 77 paisa increase, closing at Rs355.39 in comparison to the previous closing at Rs354.62.

In addition, the exchange rates for the Emirates Dirham and the Saudi Riyal saw minimal changes, each increasing by 01 paisa to close at Rs76.13 and Rs74.56, respectively.

This currency update provides a snapshot of the day’s fluctuations in the foreign exchange market, offering insights into the performance of the Pakistani Rupee against major international currencies. Stay informed about these shifts to better understand the dynamics influencing currency values.

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