The exchange rate of the Pakistan rupee appreciated by 20 paisa against the US dollar in interbank trading on Friday, July 12, 2024. The rupee closed at Rs 278.40 against the previous day’s closing of Rs 278.60, indicating a slight strengthening of the local currency.
Interbank and Open Market Rates
According to the Forex Association of Pakistan (FAP), the buying and selling rates of the US dollar in the open market were recorded at Rs 279.50 and Rs 281.25, respectively. While the interbank rate showed appreciation, the open market rates remained relatively stable.
Euro, British Pound, and Other Currencies
In addition to the US dollar, the exchange rates for other major currencies also experienced fluctuations:
- Euro: The price of the Euro increased by 84 paisa, closing at Rs 302.85 compared to the last day’s closing of Rs 302.01, according to the State Bank of Pakistan (SBP).
- Japanese Yen: The Japanese yen gained 2 paisa, closing at Rs 1.74.
- British Pound: The exchange rate of the British Pound increased by Rs 1.45, closing at Rs 360.02, compared to the last day’s closing of Rs 358.57.
- Emirates Dirham and Saudi Riyal: The exchange rates for both the Emirates Dirham and the Saudi Riyal decreased by 6 paisa each, closing at Rs 75.79 and Rs 74.22, respectively.
The appreciation of the Pakistan rupee against the US dollar in interbank trading reflects a positive movement for the local currency. However, the open market rates remained stable with minimal fluctuations. The variations in the exchange rates of other major currencies such as the Euro, British Pound, Japanese Yen, Emirates Dirham, and Saudi Riyal highlight the dynamic nature of the forex market.
For further updates on currency exchange rates and financial news, stay tuned.
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