Rupee sheds 17 paisas against dollar

ISLAMABAD    -   Pakistani rupee on Monday witnessed a devaluation of 17 paisas against the US dollar in the interbank trading and closed at Rs278.37 against the previous day’s closing at Rs 278.20. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market, however, were Rs277.75 and Rs280.5 respectively. The price of the Euro decreased by Rs3.43 to close at Rs299.52 against the last day’s closing of Rs 302.95, according to the State Bank of Pakistan (SBP). The Japanese Yen came down by 01 paisa and closed at Rs1.77, whereas a decrease of Rs2 was witnessed in the exchange rate of the British Pound, which traded at Rs 354.04 as compared to the last day’s closing of Rs 356.04. The exchange rate of the Emirates Dirham and the Saudi Riyal increased by 04 paisas and 05 paisas to close at Rs75.78 and Rs74.22.

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