Pakistani Rupee Drops Marginally Against US Dollar in Interbank

In a slight retreat from its previous position, the Pakistani Rupee ended Monday's interbank trading session at a marginally lower rate, down by 04 paisa against the US Dollar, settling at Rs 278.36 compared to Rs 278.32 from the previous day's close. The minor depreciation reflected subdued market movements as traders navigated the currencies. Notably, the open market rates, as reported by the Forex Association of Pakistan (FAP), diverged slightly with the US Dollar buying and selling at Rs 277.5 and Rs 280, respectively.

Other Currency Movements

Amid fluctuations in the Forex market, the European single currency, the Euro, observed an uptick as it closed higher by 44 paisa, reaching Rs 301.67 against the earlier Rs 301.23, as per data from the State Bank of Pakistan (SBP). Conversely, the Japanese Yen's exchange rate remained steadfast at Rs 1.77, showing no change from the previous session. The British Pound, however, marked a notable rise of 62 paisa, trading at Rs 353.85 compared with Rs 353.23 of the prior close.

In the realm of Gulf currencies, both the Emirates Dirham and the Saudi Riyal saw an incremental rise, each gaining 01 paisa to close at Rs 75.78 and Rs 74.21 correspondingly, as market participants monitored regional economic cues.

Rupee, Dollar, Forex