Rupee continues upward trend against dollar

Dollar rates today 18th December 2023

In a positive turn of events, the Pakistani Rupee exhibited its fifth consecutive recovery session on Monday, gaining 05 paisa against the US Dollar in interbank trading. The day concluded with the rupee closing at Rs283.20, a marginal improvement from the previous day’s closing at Rs283.25.

According to the Forex Association of Pakistan (FAP), the open market reflected a buying rate of Rs283.2 and a selling rate of Rs286 for the US Dollar.

The Euro experienced a notable decrease of Rs2.03, closing at Rs309.35 as reported by the State Bank of Pakistan (SBP), down from the last day’s closing rate of Rs311.38.

Meanwhile, the Japanese Yen observed a minor decline of 01 paisa, closing at Rs1.98. In contrast, the British Pound saw a more significant decrease of Rs2.02, concluding the day’s trading at Rs359.53 compared to the previous closing of Rs361.55.

Additionally, the exchange rates of the Emirates Dirham and the Saudi Riyal both saw a marginal decrease of 01 paisa each, settling at Rs77.11 and Rs75.49, respectively.

This latest positive trend in the currency market showcases the Pakistani Rupee’s resilience and stability, providing a favorable environment for traders and investors alike. As the rupee continues its recovery streak, observers remain optimistic about the currency’s performance in the coming days.

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