Rupee stays on recovery path

ISLAMABAD - Cor­rective measures taken by the government have start­ed yielding results as the Pakistani rupee on Monday gained Rs1.78 against the US dollar in the interbank trad­ing and closed at Rs301.16 against the previous day’s closing of 302.94. However, according to the Forex As­sociation of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs298.1 and Rs301 respectively. The price of the Euro decreased by Rs 1.46 to close at Rs323.02 against the last day’s closing of Rs324.48, according to the State Bank of Pakistan (SBP). The Japanese Yen remained unchanged and stood at Rs2.05, whereas a decline of Rs1.33 was witnessed in the exchange rate of the Brit­ish Pound, which traded at Rs377.17 as compared to the last closing of Rs378.50. The exchange rates of the Emir­ates Dirham and the Saudi Riyal decreased by 49 and 47 paisas to close at Rs81.99 and Rs80.29 respectively.

ePaper - Nawaiwaqt