US dollar rate in Pakistan on May 9 up by Re0.10 to Rs278.20

KARACHI: The US dollar rate in Pakistan strengthened by Re0.10 (10 Paisa) to Rs278.20 against the Pakistani rupee in the interbank market on Thursday (May 9) as per the State Bank of Pakistan (SBP).

According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market, however, stood at Rs 277.50 and Rs 280.25 respectively.

The price of the Euro decreased by 32 paisa and closed at Rs 299.11 against the last-day closing of Rs 299.43, according to the State Bank of Pakistan (SBP).

The Japanese Yen remained unchanged at Rs 1.80, whereas an decrease of Rs 1.12 was witnessed in the exchange rate of the British Pound, which was traded at Rs 348.58 compared to the last closing of Rs 349.70.

The Emirates Dirham went down by 4 paisa and closed at Rs 75.71 whereas Saudi Riyal was traded at Rs.74.15 showing decline of 3 paisa against rupee.

Globally, the US dollar held tight ranges against most peers on Thursday as traders awaited key US inflation data for cues on Federal Reserve policy, while the focus on the massive interest rate gap between Japan and the US helped it make some gains on the yen.