Rupee continues upward trend against dollar

Rupee gains Rs 1.04 against US Dollar as on 4th October 2023

In the interbank trading session on Wednesday, the Pakistani Rupee continued its impressive streak, marking its 21st consecutive recovery session by appreciating against the US dollar. It gained Rs1.04 and concluded at Rs 284.68, surpassing the previous day’s closing rate of Rs 285.72.

On the other hand, as reported by the Forex Association of Pakistan (FAP), the open market displayed slightly different dynamics, with the dollar’s buying rate at Rs 282.25 and the selling rate at Rs 285.

Meanwhile, the Euro exhibited a decline of Rs 1.23, settling at Rs 298.33, compared to its previous closing rate of Rs 299.56, as per the State Bank of Pakistan (SBP).

The Japanese Yen experienced a marginal increase of 01 paisa, closing at Rs 1.91. Conversely, the exchange rate of the British Pound saw a decrease of Rs 1.25, trading at Rs 343.97, down from its previous rate of Rs 345.42.

In addition to these fluctuations, the Emirates Dirham and the Saudi Riyal both saw a decline of 28 paisa each, ultimately closing at Rs 77.50 and Rs 75.89, respectively.

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