Pakistani Rupee Sees Slight Devaluation Against US Dollar on June 12, 2024

On Wednesday, June 12, 2024, the Pakistani Rupee (PKR) experienced a minor devaluation of 11 paisa against the US Dollar in interbank trading. The PKR closed at Rs 278.60 compared to the previous day’s closing rate of Rs 278.49.

According to the Forex Association of Pakistan (FAP), the open market rates for the Dollar were Rs 277.7 for buying and Rs 280.5 for selling, indicating a slight variation from the interbank rates.

In other currency movements, the Euro saw a decrease of 35 paisa, closing at Rs 299.39 against the previous day’s rate of Rs 299.74, as reported by the State Bank of Pakistan (SBP).

The Japanese Yen appreciated slightly by 01 paisa, closing at Rs 1.77. Meanwhile, the British Pound experienced a notable increase of 92 paisa, trading at Rs 355.28 compared to the last day’s closing of Rs 354.36.

Additionally, minor increases were recorded in the exchange rates of the Emirates Dirham and the Saudi Riyal. The Dirham rose by 03 paisa to close at Rs 75.85, while the Riyal increased by 01 paisa to close at Rs 74.27.

Overall, the exchange rate fluctuations reflect the ongoing dynamics in the foreign exchange market, influenced by various economic factors and market sentiment.

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