Pakistani Rupee Posts Gains Against US Dollar for Second Straight Day

The Pakistani rupee (PKR)on Friday appreciated by 11 paisa against the US dollar (USD) in the interbank trading and closed at Rs. 278.56 against the previous day’s closing of Rs. 278.67. PKR had reversed its 3-day losing streak against the USD yesterday, appreciating by 0.03 percent to close at 278.67. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 278.75 and Rs 280.25 respectively. The price of Euro (EUR) increased by 63 paisa to close at Rs. 309.58 against the last day’s closing of Rs. 308.95, according to the State Bank of Pakistan (SBP). The Japanese yen (JPY) remained unchanged and closed at Rs. 1.94, whereas an increase of 81 paisa was witnessed in the exchange rate of the British Pound (GBP), which traded at Rs. 367.19 as compared to the last day’s closing of Rs. 366.38. The exchange rates of the Emirates Dirham (AED) and the Saudi Riyal (SAR) decreased by 03 paisa each to close at Rs. 75.84 and Rs. 74.20 respectively.