Rupee strengthens against dollar

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The Pakistani rupee strengthened by 29 paisas, against the US dollar in the inter-bank trading on Monday and closed at Rs 176.47 as compared to the previous day’s closing of Rs 176.76.According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 177.5 and Rs 178.75 respectively.

Similarly, the price of the Euro was depreciated by 55 paisa and closed at Rs 199.03 against the last day’s trading of Rs 199.58, the State Bank of Pakistan reported.

The Japanese Yen remained unchanged at Rs 1.55, whereas a decrease of Rs 1.12 was witnessed in the exchange rate of the British Pound, which was traded at Rs 233.47 as compared to its last closing of Rs 234.59.

The exchange rates of Emirates Dirham and Saudi Riyal decreased by 08 paisas each to close at Rs 48.04 and Rs 47.04 respectively. —APP

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