Rupee Recovers a Day After US Dollar Crossed 280 for First Time in Over a Year

The Pakistan Rupee (PKR) Tuesday appreciated by 11 paisa against the US Dollar (USD) in the interbank trading and closed at Rs. 279.95 against the previous day’s closing of Rs. 280.06. On Monday, the PKR dropped to 280 against the USD for the first since in over a year. The price of the Euro increased by Rs. 2.09 to close at Rs. 305.22 against the last day’s closing of Rs. 303.13, according to the State Bank of Pakistan (SBP). The Japanese yen went up by 01 pasia and closed at Rs. 1.90, whereas an increase of 72 paisa was witnessed in the exchange rate of the British Pound, which was traded at Rs. 361.72 as compared to the last day’s closing of Rs. 361.00. The exchange rates of the Emirates Dirham and the Saudi Riyal decreased by 03 and 01 paisa to close at Rs. 76.22 and Rs. 74.64, respectively.