Rupee weakens against dollar

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Pakistan's forex reserves

The exchange rate of the Pakistani rupee depreciated by 27 paisa against the US dollar in the interbank trading on Monday and closed at Rs 227.40 against the previous day’s closing of Rs 227.13.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs 234.40 and Rs 236.75 respectively.

The price of the euro increased by Rs 3.77 and closed at Rs 242.92 against the previous day’s closing of Rs 239.15, according to the State Bank of Pakistan (SBP).

The Japanese yen gained three paisa to close at Rs1.72, whereas an increase of Rs 5.96 was witnessed in the exchange rate of the British pound, which was traded at Rs 276.32 as compared to its last closing of Rs 270.36.—APP