Rupee Dips Marginally Against US Dollar

On Monday, the Pakistani Rupee saw a slight depreciation of 2 paise against the US Dollar in interbank trade, finishing the day at Rs283.89. This was a negligible decrease from the previous trading session's close of Rs283.87. The open market rates, as reported by the Forex Association of Pakistan (FAP), marked the buying and selling prices of the Dollar at Rs284 and Rs286.5, respectively.

Other Currencies' Performance

Alongside the Rupee's marginal fall, the Euro also experienced a decline, dropping 63 paise, with the closing rate settling at Rs305.36 compared to Rs305.99 at the previous close. Data released by the State Bank of Pakistan (SBP) highlighted these figures. Other currencies, such as the Japanese Yen, fell by 03 paisa to conclude trading at Rs1.93. The British Pound too did not escape the downtrend, witnessing an 84 paisa slump to Rs355.83, down from Rs356.67 from the day before.

Stable Gulf Currencies

In contrast, currencies from the Gulf Cooperation Council (GCC) showed relative stability. Both the Emirates Dirham and the Saudi Riyal nudged up by 01 paisa each. The Dirham closed at 77.31, whereas the Riyal's trade ended at Rs75.69, indicating a slight increase in their value relative to the Rupee.

Rupee, Dollar, Forex