On Wednesday, the rupee appreciated by 01 paisa against the US dollar and closed at Rs280,06, compared to the previous closing rate of Rs280,07. The marginal gain reflected calm trading conditions in the interbank market.
According to the Forex Association of Pakistan (FAP), the buying rate of the dollar in the open market stood at Rs280,75, while the selling rate was recorded at Rs282,8.
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Meanwhile, the euro lost value and declined by Rs1,46 to close at Rs327,16, compared to its previous closing of Rs328,62, as reported by the State Bank of Pakistan (SBP).
The Japanese yen also weakened slightly, falling by 01 paisa to close at Rs1,78. At the same time, the British pound saw a sharper drop of Rs2,06 and settled at Rs377,80, down from Rs379,86.
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In the Gulf currencies, the Emirates dirham slipped by 01 paisa to close at Rs76,24. The Saudi riyal, however, remained unchanged and closed at Rs74,67.
The slight rise in the rupee suggests short-term stability in the interbank market. Declines in the euro and pound show global currency pressure. Overall, the market remains cautious but steady.
