Rupee stays steady against dollar – But why euro and pound gain?
File photo
File photo
KARACHI (Web Desk): The Rupee remained steady against the US Dollar on Wednesday, closing at Rs280,77, the same as the previous day, according to the Forex Association of Pakistan.

In the open market, the buying rate of the Dollar was recorded at Rs281,65, while the selling rate stood at Rs281,85.

The Euro gained 51 paisa, closing at Rs325,14 compared to Rs324,63 the day before, as reported by the State Bank of Pakistan.

The Japanese Yen slightly dropped by 01 paisa to close at Rs1,81, while the British Pound increased by 44 paisa to close at Rs369,11 from Rs368,67.

Meanwhile, the exchange rates of the Emirates Dirham and Saudi Riyal remained unchanged, closing at Rs76,44 and Rs74,86, respectively.

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Rupee’s stability shows calm in the local currency market. Rising Euro and Pound rates suggest stronger demand for these currencies. Traders are keeping a close eye on international trends.