Rupee gains against US Dollar as euro and pound slide
Rupee appreciates against dollar as currency market shows calm. File photo
Rupee appreciates against dollar as currency market shows calm. File photo
KARACHI (Web Desk): The Rupee on Wednesday gained 03 paisa and closed at Rs280.12 compared to the previous closing of Rs280.15.

The appreciation of the local currency reflected slight improvement in interbank trading.

According to the Forex Association of Pakistan (FAP), the buying rate of the Dollar in the open market stood at Rs281, while the selling rate was recorded at Rs283.

Data shared by the State Bank of Pakistan (SBP) showed that the Euro weakened by Rs0.79 and closed at Rs328.85 from the previous rate of Rs329.64.

Read more: Gold prices decrease sharply in Pakistan as global rates slide

The Japanese Yen also declined by 01 paisa to close at Rs1.78. Meanwhile, the British Pound fell by Rs1.27 and settled at Rs377.17 compared to Rs378.44 a day earlier.

The Emirates Dirham slipped by 01 paisa to close at Rs76.27, while the Saudi Riyal remained unchanged at Rs74.69, showing stability in Gulf currencies.

The small rise in the Rupee shows temporary stability. Global currency pressure is still visible. Market watchers expect cautious trading in coming days.