Rupee gains as dollar rate drops in interbank trading
Rupee gains against dollar, euro and pound also fall. File photo
Rupee gains against dollar, euro and pound also fall. File photo
(Web Desk): Rupee gained 03 paisa against the US dollar in interbank trading and closed at Rs279.47 compared with Rs279.50 the previous day.

The move showed slight stability in the currency market, according to the Forex Association of Pakistan. The buying rate of the dollar in the open market was recorded at Rs280.35 while the selling rate stood at Rs282.15. Market traders observed small movements in demand and supply, which affected rates.

The euro decreased by 08 paisa and closed at Rs329.94 compared with the previous close of Rs330.02, as reported by the State Bank of Pakistan. The Japanese yen remained stable at Rs1.79 with no change.

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The British pound declined by Rs1.77 and closed at Rs376.63 against the previous rate of Rs378.40, reflecting pressure in global markets. The Emirates dirham remained unchanged at Rs76.09, while the Saudi riyal dropped by 01 to close at Rs74.51.

Analysts say minor gains in the rupee show market balance but overall pressure still exists due to import costs and global economic factors. Traders believe currency rates may keep fluctuating in coming days depending on demand and foreign reserves.