Rupee sheds against US Dollar

KARACHI - Pakistani rupee witnessed 29 paisas devaluation against the US Dollar (USD) in the interbank trading on Friday as it closed at Rs 285.67 against the previous day’s closing of Rs 285.38.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market stood at Rs299 and Rs302, respectively.

The price of the Euro increased by Rs 2.86 to close at Rs 307.53 against the last day’s closing of Rs304.67, according to the State Bank of Pakistan (SBP).

The Japanese Yen remained went up by 01 paisa closed at Rs2.05, whereas an increase of Rs3.15 was witnessed in the exchange rate of the British Pound, which traded at Rs357.86 as compared to its last day’s closing of Rs354.71.

The exchange rate of the Emirates Dirham and the Saudi Riyal increased by 08 paisas each to close at Rs 77.77 and Rs76.16 respectively.