Rupee sheds 11 paisas against dollar

ISLAMABAD   -    Pakistani rupee on Wednesday witnessed a devaluation of 11 paisas against the US dollar in the interbank trading and closed at Rs278.60 against the previous day’s closing at Rs278.49. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market, however, were Rs277.7 and Rs280.5 respectively. The price of the Euro decreased by 35 paisas to close at Rs299.39 against the last day’s closing of Rs299.74, according to the State Bank of Pakistan (SBP). The Japanese Yen went up by 01 paisa and closed at Rs1.77, whereas an increase of 92 paisas was witnessed in the exchange rate of the British Pound, which traded at Rs355.28 as compared to the last day’s closing of Rs354.36. The exchange rate of the Emirates Dirham and Saudi Riyal increased by 03 paisas and 01 paisa to close at Rs75.85 and Rs74.27.

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