Rupee sheds 16 paisa against US dollar

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Islamabad

The exchange rate of Pakistani rupee weakened by 16 paisas against the US dollar in the interbank trading on Friday and closed at Rs160.17 as compared to the previous day’s closing of Rs160.01.
Meanwhile, according to Forex Association of Pakistan, the buying and selling rates of dollar in the open market were recorded at Rs159.7 and Rs160.5 respectively.
In interbank trading, the price of euro depreciated by Rs 1.94 and closed at Rs195.86 against the last day’s trading of Rs 196.90, State Bank of Pakistan reported.
The Japanese Yen remained unchanged to close at Rs1.54, whereas a decrease of 16 paisas was witnessed in the exchange rate of British Pound which was traded at Rs217.49 as compared to its last closing of Rs217.65.
The exchange rates of Emirates Dirham and Saudi Riyal increased by 04 paisas each to close at Rs 43.60 and Rs 42.69 respectively.—APP