Rupee edges up against US Dollar - Why Euro and Pound surge?
File photo
File photo
KARACHI (Web Desk): The Rupee made a slight upward move against the US Dollar, gaining 01 paisa in interbank trade to settle at Rs281.55 compared to yesterday’s Rs280.56.

In the open market, the Forex Association of Pakistan reported the Dollar’s buying rate at Rs281.5 and the selling rate at Rs281.6, reflecting a stable but cautious trend.

The Euro showed a noticeable increase, rising by 31 paisa to close at Rs325.11 from the earlier Rs324.80, according to the State Bank of Pakistan.

The Japanese Yen stayed unchanged at Rs1.79, showing no shift in demand. In contrast, the British Pound continued its upward movement, gaining Rs1.25 to close at Rs371.14 versus the previous Rs369.89.

Meanwhile, both the Emirates Dirham and the Saudi Riyal dipped slightly, losing 01 paisa each to close at Rs76.38 and Rs74.79, respectively.

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The Rupee’s tiny rise suggests the market is steady but not strong. Bigger jumps in the Euro and Pound show foreign currencies are still gaining pressure. Traders say the mixed movement hints at uncertainty ahead, as global shifts continue to influence Pakistan’s currency market.