Pakistani Rupee Inches Up Against US Dollar, Mixed Moves for Other Currencies

The Pakistani rupee posted a slight gain against the US dollar in the inter-bank market on Tuesday, appreciating by 0.01%. At the close of trading, the rupee settled at Rs. 281.22, up by Rs. 0.03 from Monday’s closing rate of Rs. 281.25. According to the Forex Association of Pakistan (FAP), the dollar was quoted in the open market at a buying rate of Rs. 282.6 and a selling rate of Rs. 282.7. Other major currencies saw mixed movements. The euro rose by Rs. 0.70 to close at Rs. 328.50, compared to the previous day’s Rs. 327.80, as per data from the State Bank of Pakistan (SBP). The British pound also strengthened, gaining Rs. 0.43 to finish at Rs. 378.01, up from Rs. 377.58. Meanwhile, the Japanese yen edged down by 01 paisa to close at Rs. 1.86. The exchange rates for the Emirates Dirham and Saudi Riyal also slipped, dropping by 01 and 02 paisa to close at Rs. 76.56 and Rs. 74.97, respectively.