Rupee Strengthens Slightly Against US Dollar, Weakens Against Euro and Pound

The Pakistani rupee posted a marginal gain against the US dollar on Thursday, appreciating by 0.01% in the inter-bank market. At the close of the trading session, the local currency settled at Rs. 281.03, up by Rs. 0.02 against the US dollar, according to the State Bank of Pakistan (SBP). The rupee had closed at Rs. 281.05 on Wednesday. In the open market, exchange companies quoted the dollar at Rs. 281.10 for buying and Rs. 282.10 for selling. In comparison to other major currencies, the rupee weakened by 9.86 paisa or 0.03% against the Euro, closing at Rs. 326.01, compared to the previous value of Rs. 325.91. Against the British Pound, the rupee fell by 76.89 paisa or 0.21%, ending the day at Rs. 375.23, compared to Rs. 374.46 the previous day. However, the rupee strengthened by 34 paisa or 0.10% against the Swiss Franc, closing at Rs. 352.52. Against the Japanese Yen, the rupee gained 0.80 paisa or 0.43%, finishing the session at Rs. 1.8429 compared to Rs. 1.8509 a day earlier. The Pakistani rupee also depreciated by 0.60 paisa or 0.02% against the Chinese Yuan, closing at Rs. 39.45, unchanged from the previous day. Meanwhile, the rupee appreciated by 1.04 paisa or 0.01% against the Saudi Riyal, closing at Rs. 74.93, and rose by 0.76 paisa or 0.01% against the U.A.E Dirham, closing at Rs. 76.51. So far in the current fiscal year, the Pakistani rupee has strengthened against the US dollar by Rs. 2.73 or 0.97%. However, it has depreciated by Rs. 2.48 or 0.88% against the dollar in the calendar year to date.