Rupee continues upward trend against dollar

Dollar rates today 3rd January 2024

In the latest currency market developments on January 3, 2024, the Pakistani Rupee exhibited a positive trend against the US Dollar in interbank trading. The Rupee appreciated by 17 paisa, closing at Rs281.72 compared to the previous day’s closing rate of Rs281.89.

According to the Forex Association of Pakistan (FAP), the open market rates for the US Dollar were reported at Rs280.5 for buying and Rs283 for selling, offering a slightly different perspective from the interbank rates.

Shifting focus to other major currencies, the Euro saw a decline of Rs2.19, concluding at Rs308.62 as opposed to the previous day’s closing rate of Rs310.81, as reported by the State Bank of Pakistan (SBP).

In the case of the Japanese Yen, a minor decrease of 02 paisa was observed, leading to a closing rate of Rs1.97. Meanwhile, the British Pound experienced a more substantial decline, with the exchange rate dropping by Rs3.10 to settle at Rs356.24, compared to the previous closing rate of Rs359.34.

Furthermore, the exchange rates for the Emirates Dirham and the Saudi Riyal both decreased by 05 and 04 paisa, closing at Rs76.70 and Rs75.12, respectively.

This update provides a snapshot of the currency market’s fluctuations, offering insights into the dynamic nature of exchange rates on this particular day. As global economic factors continue to influence currency values, these daily updates serve as valuable information for businesses, investors, and individuals monitoring the financial landscape.

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