Rupee weakens by Rs3.43 against dollar

ISLAMABAD -Pakistani rupee on Wednesday witnessed a Rs3.43 devaluation against the US dollar in the interbank trading, closing at Rs294.93 against the previous day’s closing of Rs 291.50. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 301.5 and Rs 303.5 respectively. The price of the Euro increased by Rs 3.98 to close at Rs 322.36 against the last day’s closing of Rs 318.38, according to the State Bank of Pakistan (SBP). The Japanese Yen went up and closed at Rs 2.02, whereas an increase of Rs 6.32 was witnessed in the exchange rate of the British Pound, which traded at Rs 376.12 as compared to the last closing of Rs 369.80. The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 93 paisas each to close at Rs 80.29 and Rs 78.64 respectively.

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