Rupee reaches 233 against US dollar in interbank

Islamabad: The Pakistani rupee (PKR) on Tuesday depreciated by Rs3.05 against the US dollar in the interbank market, closing at Rs232.92 against the previous day’s closing of Rs229.87.

It is pertinent to note that earlier SBP in its efforts to control the free-fall of rupee against the US dollar had asked commercial banks to manage import payment requests from their own inflows, such as exporter accruals and remittances.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs232 and Rs237 respectively.

Similarly, the price of the euro was increased by Rs3.19 and closed at Rs238.06 against the previous day’s closing of Rs234.87.

The Japanese Yen gained 2 paisas to close at Rs1.70, whereas an increase of Rs4.3 was witnessed in the exchange rate of the British Pound, which was traded at Rs280.58 as compared to its last closing of Rs276.28.

The exchange rates of Emirates Dirham and Saudi Riyal increased by 81 paisas each to close at Rs63.41 and Rs61.98, respectively.