KARACHI: The exchange rate between the US dollar (USD) and the Pakistani Rupee (PKR) in Pakistan has witnessed a significant rise, reaching a new high of PKR 326, which is an increase of PKR 3. This information was reported by the Exchange Companies Association.
On the last day of the business week, the dollar had previously reached PKR 323 in the open market. Conversely, there was a slight decrease of 7 paise in the value of the dollar in the interbank market on Friday, where it closed at PKR 305.47, as reported by the State Bank.
However, the Forex Association of Pakistan (FAP) reported slightly different rates for the open market, indicating buying and selling rates of PKR 329.5 and PKR 332.5, respectively, for the US dollar.
The Euro also experienced a decrease in its value, falling by PKR 1.18 paisa to close at PKR 331.52, in comparison to the previous day’s closing rate of PKR 332.70, according to the State Bank of Pakistan (SBP).
Meanwhile, the Japanese Yen saw a marginal increase of 1 paisa and stood at PKR 2.10. On the other hand, the exchange rate of the British Pound witnessed a decrease of 55 paisa, trading at PKR 387.42 as opposed to its previous closing rate of PKR 387.97.
In the case of the Emirates Dirham and the Saudi Riyal, their exchange rates decreased by 2 and 1 paisa, respectively, closing at PKR 83.16.