Rupee Inches Up Against Dollar; Euro, Pound Weaken

The Pakistani rupee posted a marginal gain against the US dollar in the inter-bank market on Thursday, appreciating by Rs. 0.01 to close at Rs. 281.20. The local currency had settled at Rs. 281.21 on Wednesday. According to the Forex Association of Pakistan (FAP), the dollar was quoted at Rs. 282.8 for buying and Rs. 282.9 for selling in the open market. The euro fell by Rs. 0.66, ending the day at Rs. 326.51 compared to the previous close of Rs. 327.17, according to the State Bank of Pakistan (SBP). The Japanese yen slipped by 1 paisa to close at Rs. 1.83. The British pound also weakened, dropping by Rs. 1.99 to close at Rs. 375.46, down from Rs. 377.45 a day earlier. Meanwhile, the exchange rate for the Emirates dirham remained unchanged at Rs. 76.55, while the Saudi riyal edged up by 1 paisa to close at Rs. 74.97.