Dollar Rates Today: 3rd June 2024: Rupee Sheds 4 Paisa Against Dollar

On Monday, the Pakistani Rupee experienced a slight decline against the US Dollar in interbank trading, losing 4 paisa to close at Rs 278.36, down from the previous day’s closing of Rs 278.32.

Interbank Rates

According to the Forex Association of Pakistan (FAP), the interbank market saw a minor depreciation of the Rupee against the Dollar, highlighting ongoing fluctuations in the currency market.

Open Market Rates

In the open market, the Dollar’s buying and selling rates were reported at Rs 277.5 and Rs 280 respectively, indicating a slightly higher spread compared to the interbank rates.

Other Currencies

  • Euro: The Euro saw an increase of 44 paisa, closing at Rs 301.67 compared to the previous day’s Rs 301.23, as per the State Bank of Pakistan (SBP).
  • Japanese Yen: The exchange rate for the Japanese Yen remained stable at Rs 1.77.
  • British Pound: The British Pound experienced a notable increase of 62 paisa, trading at Rs 353.85, up from Rs 353.23.
  • Emirates Dirham: The Emirates Dirham’s exchange rate increased by 01 paisa to close at Rs 75.78.
  • Saudi Riyal: The Saudi Riyal also saw a 01 paisa increase, closing at Rs 74.21.

Today’s exchange rate movements reflect ongoing volatility in the currency market. The minor depreciation of the Rupee against the Dollar, coupled with changes in other major currencies, underscores the dynamic nature of foreign exchange rates in Pakistan.

Stay updated with the latest forex trends and rates for informed financial decisions.

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