Pakistani Rupee Continues Positive Trend Against US Dollar

The Pakistani rupee continued its positive momentum against the US dollar, appreciating slightly in the inter-bank market on Friday. At the close of trading, the rupee settled at Rs. 281.46, gaining Rs. 0.01 against the greenback. This marks the rupee’s 31st consecutive gain against the US dollar. On Thursday, the local currency had closed at Rs. 281.47. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs. 282.55 and Rs. 282.75, respectively. The price of the euro decreased by Rs. 1.96, closing at Rs. 330.91, compared to the previous day’s rate of Rs. 332.87, as per the State Bank of Pakistan (SBP). The Japanese yen fell by Rs. 0.01 to close at Rs. 1.90, while the British pound saw a decline of Rs. 4.12, trading at Rs. 379.56, down from Rs. 383.68. The exchange rate of the Emirates Dirham also dropped by Rs. 0.01, closing at Rs. 76.62, while the Saudi Riyal increased by Rs. 0.01, closing at Rs. 75.04.