Rupee extends losses against dollar

Pakistan's forex reserves

The exchange rate of the Pakistani rupee depreciated by 31 paisa against the US dollar in the interbank trading on Tuesday and closed at Rs 228.65 against the previous day’s closing of Rs 228.34.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs 236.5 and Rs 238.75 respectively.

The price of the euro increased by 24 paisa and closed at Rs 247.51 against the previous day’s closing of Rs 247.27, according to the State Bank of Pakistan (SBP).

The exchange rates of the Emirates dirham and Saudi riyal increased by 09 paisa each to close at Rs 62.25 and Rs 60.87 respectively.—APP