Pakistani Rupee Stops Decline Against US Dollar, Weakens Further Against Euro

The Pakistani rupee (PKR) halted its two-day losing streak on Thursday as it appreciated slightly against the US dollar (USD). At close of the day, the PKR settled at 279.82 against the greenback, up Rs. 0.05 or 0.02 percent from its previous close of 279.87. On Wednesday, the PKR had depreciated by Rs. 0.10 against the USD to close at Rs. 279.87. The price of the Euro increased by Rs. 3.73 to close at Rs. 302.07 against the last day’s closing of Rs. 298.34, according to the State Bank of Pakistan (SBP). The Japanese yen went up by 01 paisa and closed at Rs. 1.88, whereas an increase of Rs. 2.34 was witnessed in the exchange rate of the British Pound, which was traded at Rs. 361.03 as compared to the last day’s closing of Rs. 358.69. The exchange rates of the Emirates Dirham and the Saudi Riyal decreased by 02 paisa each to close at Rs. 76.18 and Rs. 74.59 respectively.