Pakistan Rupee Ends Flat Against US Dollar; Euro, Pound Weaken

The Pakistan rupee closed marginally higher against the US dollar in the inter-bank market on Monday, settling at Rs. 281.25, up by Rs. 0.01 from the previous session. Last week, the rupee posted a slight gain, appreciating by Re. 0.11 or 0.04% against the greenback. The local unit ended the week at Rs. 281.26, compared to Rs. 281.37 a week earlier, according to data from the State Bank of Pakistan (SBP). In the open market, the Forex Association of Pakistan (FAP) reported the dollar’s buying and selling rates at Rs. 282.3 and Rs. 282.4, respectively. The euro weakened by Rs. 2.24, closing at Rs. 327.80 versus the previous close of Rs. 330.04, according to the SBP. The Japanese yen slipped by 8 paisa to end at Rs. 1.82. The British pound also declined, falling by Rs. 1.05 to close at Rs. 377.58, compared to Rs. 378.63 a day earlier. The exchange rates for the Emirates dirham and the Saudi riyal remained unchanged, closing at Rs. 76.57 and Rs. 74.99, respectively.