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Pak Rupee Plunges to Historic Lows Against US Dollar

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LAHORE MIRROR — The exchange rate of the Pakistani rupee depreciated by 9.6% or Rs 24.53 against the US dollar in the interbank trading on Thursday and closed at Rs 255.42 against the previous day’s closing of Rs 230.89.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs 253.5 and Rs 255 respectively.

The price of the euro appreciated by Rs 27.55 and closed at Rs 278.83 against the previous day’s closing of Rs 251.28, according to the State Bank of Pakistan (SBP).

The Japanese yen decreased by 20 paisa to close at Rs 1.97, whereas an increase of Rs 32.41 was witnessed in the exchange rate of the British pound, which was traded at Rs 316.60 as compared to its last closing of Rs 284.19.

The exchange rates of the Emirates dirham and Saudi riyal increased by Rs 6.68 and Rs 6.55 to close at Rs 69.54 and Rs 68.04 respectively.

SOURCE: APP