In a positive trend, the Pakistani Rupee continued its impressive recovery streak on Friday, marking its 22nd consecutive session of gains against the US dollar in interbank trading. The Rupee strengthened by 94 paisa against the US dollar, closing at Rs 282.68 compared to the previous day’s closing of Rs 283.62.
However, in the open market, as reported by the Forex Association of Pakistan (FAP), the buying and selling rates for the US dollar were slightly different, standing at Rs 280 for buying and Rs 282.75 for selling.
In addition to the Rupee’s resilience against the US dollar, the Euro also saw a modest decrease of 10 paisa, closing at Rs 298.03 compared to the previous day’s closing of Rs 298.13, according to the State Bank of Pakistan (SBP).
The Japanese Yen experienced a minor dip of 01 paisa, closing at Rs 1.89. On the other hand, the British Pound exhibited strength with an increase of 57 paisa, closing at Rs 344.73, up from the previous day’s closing of Rs 344.16.
Furthermore, the exchange rates for the Emirates Dirham and the Saudi Riyal also saw a decline of 25 paisa each, closing at Rs 76.96 and Rs 75.37, respectively.
This consistent improvement in the exchange rate reflects positive sentiment and stability in Pakistan’s financial markets, which is a welcome development for the economy.
