According to the Forex Association of Pakistan (FAP), the Dollar’s buying and selling rates in the open market were recorded at Rs282.55 and Rs282.65, showing stability amid cautious trading.
Meanwhile, the Euro strengthened by 93 paisa to close at Rs327.43 compared to the previous day’s Rs326.50, according to data released by the State Bank of Pakistan (SBP).
The Japanese Yen also inched up by 01 paisa to close at Rs1.84, while the British Pound rose by 36 paisa, settling at Rs374.46 against the previous Rs374.10.
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On the other hand, the exchange rates of the Emirates Dirham and Saudi Riyal saw a slight decline of 01 paisa each, closing at Rs76.49 and Rs74.92, respectively.
The Rupee’s slight appreciation hints at temporary stability in the foreign exchange market. However, experts suggest that upcoming global economic developments and import-related pressures could affect the local currency’s trend. The mixed movement among other major currencies reflects cautious investor sentiment as markets await clearer signals from the economic front.
