Rupee continues upward trend against dollar

Dollar rates today 27th December 2023

In a remarkable trend, the Pakistani Rupee continued its recovery streak for the 11th consecutive session on Wednesday, gaining 18 paisa against the US Dollar in interbank trading. The closing rate stood at Rs282.19, showcasing positive momentum compared to the previous day’s closing at Rs282.37. Despite this upward trajectory, the Forex Association of Pakistan (FAP) reported buying and selling rates of the Dollar in the open market at Rs282 and Rs284.5, respectively.

According to the State Bank of Pakistan (SBP), the Euro witnessed a 33-paisa increase, closing at Rs311.60 compared to the previous day’s Rs311.27. The Japanese Yen experienced a marginal decrease of 01 paisa, closing at Rs1.97. Meanwhile, the British Pound saw a notable decrease of 78 paisa, trading at Rs359.26 in comparison to the last closing of Rs358.48.

Additionally, the exchange rates for the Emirates Dirham and the Saudi Riyal showed a slight decline of 04 and 03 paisa, closing at Rs76.84 and Rs75.24, respectively. These fluctuations in currency values provide insights into the dynamics of the foreign exchange market, influencing trade and economic conditions.

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