Rupee Falls as Dollar Crosses 280 for First Time in Months

The Pakistani Rupee (PKR) depreciated by 10 paisa against the US Dollar (USD) in the interbank trading on Monday and closed at Rs. 280.06 against the previous closing of Rs. 279.96. This is the first time in months that the PKR has slipped to Rs. 280 against the dollar. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs. 280.25 and Rs. 281.75, respectively. The price of the Euro decreased by 11 paisa to close at Rs. 303.13 against the last day’s closing of Rs. 303.24, according to the State Bank of Pakistan (SBP). The Japanese yen remained unchanged and closed at Rs. 1.89, whereas a decrease of 22 paisa was witnessed in the exchange rate of the British Pound, which was traded at Rs. 361.00 as compared to the last day’s closing of Rs. 361.22. The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 03 and 02 paisa to close at Rs. 76.25 and Rs. 74.65, respectively.