On Tuesday, July 23, 2024, the Pakistani rupee experienced a slight depreciation against the US dollar in the interbank market. The rupee closed at Rs 278.40 per dollar, down by 10 paisa from the previous day’s closing of Rs 278.30.
Open Market Rates
According to the Forex Association of Pakistan (FAP), the open market buying and selling rates of the US dollar stood at Rs 278.5 and Rs 280, respectively.
Exchange Rates for Other Currencies
- Euro: The Euro saw a decline of 22 paisa, closing at Rs 302.79 compared to the previous day’s closing of Rs 303.01, as reported by the State Bank of Pakistan (SBP).
- Japanese Yen: The Japanese yen gained 01 paisa, closing at Rs 1.78.
- British Pound: The British pound witnessed a minor decrease of 01 paisa, trading at Rs 359.63 compared to Rs 359.64 on the previous day.
- Emirates Dirham: The exchange rate for the Emirates Dirham increased by 03 paisa, closing at Rs 75.79.
- Saudi Riyal: Similarly, the Saudi Riyal saw an increase of 03 paisa, closing at Rs 74.22.
The slight depreciation of the Pakistani rupee against the US dollar reflects ongoing fluctuations in the currency market. Meanwhile, the mixed performance of other major currencies highlights the dynamic nature of exchange rates. The decrease in the Euro and British Pound, along with the minor gains in the Japanese Yen, Emirates Dirham, and Saudi Riyal, indicates varied trends in the foreign exchange market.
Investors and traders should remain vigilant and stay updated with the latest market developments to make informed decisions.
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