As the previous closing was Rs283.95, this surprising move has sparked curiosity among market watchers, according to the Forex Association of Pakistan (FAP).

The dollar’s buying and selling rates in the open market stood at Rs285.50 and Rs286.40 respectively, reflecting a slightly different trend from the interbank market, the association reported.

Meanwhile, the Euro showed strength, rising by 69 paisa to settle at Rs335.15, up from Rs334.49. This indicates growing demand for the Euro despite the Rupee’s overall resilience.

The Japanese yen held steady at Rs1.97, showing no change, while the British Pound took a surprising hit, dropping by Rs1.1 to trade at Rs388.08, down from Rs389.18. Analysts believe this could be tied to shifting global investor sentiments.

Moreover, the Emirates Dirham and Saudi Riyal both slipped by 02 paisa each, closing at Rs77.28 and Rs75.69 respectively, adding another layer of intrigue to the currency market movements.

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These mixed currency shifts highlight the dynamic nature of Pakistan’s forex market. The Rupee’s unexpected appreciation suggests renewed confidence or technical adjustments by market players. However, the decline in the Pound and slight drops in Gulf currencies indicate external economic pressures and possible speculative activities. Such fluctuations keep investors and importers on high alert, as even small movements can impact trade costs and economic forecasts.