Pakistani Rupee Falters Against Dollar, Loses Against Euro Widen Further

The Pakistani rupee (PKR) closed the week in red against the US dollar (USD) on Friday. At close of the day, the PKR settled at 279.97 against the greenback, down Rs. 0.15 from its previous close of 279.82. On Thursday, the PKR appreciated by Rs. 0.05 against the USD to close at Rs. 279.82. Internationally, the US dollar index, which tracks the greenback against a basket of currencies, fell  0.2 percent today with month-on-month losses at 3.9 percent. The price of the Euro increased by Rs. 1.17 to close at Rs. 303.24 against the last day’s closing of Rs. 302.07, according to the State Bank of Pakistan (SBP). The Japanese yen went up by 01 paisa and closed at Rs. 1.89, whereas an increase of 19 paisa was witnessed in the exchange rate of the British Pound, which was traded at Rs. 361.22 as compared to the last day’s closing of Rs. 361.03. The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 04 paisa each to close at Rs.  76.22 and Rs. 74.63, respectively.