Rupee Nears Rs. 286 Against US Dollar in Open Market

The Rupee on Friday depreciated by 29 paisa against the US Dollar in the interbank trading and closed at Rs. 282.96 against the previous day’s closing of Rs. 282.67. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs. 283 and Rs. 285.5 respectively. The price of the Euro increased by Rs. 0.46 to close at Rs. 326.39 against the last day’s closing of Rs. 325.93, according to the State Bank of Pakistan (SBP). The Japanese yen remained unchanged and closed at Rs. 1.96, whereas an increase of Rs. 0.85 was witnessed in the exchange rate of the British Pound, which was traded at Rs. 383.68 as compared to the last day’s closing of Rs. 382.83. The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 08 and 02 paisa to close at Rs. 77.04 and Rs. 75.37, respectively.