Rupee closes at Rs 228.90 against USD

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Pakistan's forex reserves

The exchange rate of the Pakistani rupee depreciated by 25 paisa against the US dollar in the interbank trading on Wednesday and closed at Rs 228.90 against the previous day’s closing of Rs 228.65.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs 236.75 and Rs 239 respectively. The price of the euro increased by Rs 1.10 and closed at Rs 248.61 against the previous day’s closing of Rs 247.51, according to the State Bank of Pakistan (SBP).

The Japanese yen remained unchanged to close at Rs 1.77, whereas an increase of Rs 3.36 was witnessed in the exchange rate of the British pound, which was traded at Rs 282.64 as compared to its last closing of Rs 279.28.

The exchange rates of the Emirates dirham and Saudi riyal increased by 07 paisa each to close at Rs 62.32 and Rs 60.94 respectively.—APP