Rupee Mixed Against Major Currencies; Slight Gain in Open Market

The Pakistani rupee recorded a slight gain against the US dollar in the interbank market on Thursday.

The local currency closed at Rs. 281.11 per dollar, appreciating by Rs. 0.01 from the previous day’s close of Rs. 281.12.

The Pakistani rupee showed a mixed performance against major currencies in the open market on Thursday. Exchange companies quoted the US dollar at Rs. 281.30 for buying and Rs. 282.15 for selling.

Against the euro, the rupee slipped by 45.31 paisa, or 0.14%, closing at Rs. 327.64 compared to Rs. 327.18 a day earlier. The local unit also weakened against the British pound, falling by Rs. 2.21, or 0.59%, to settle at Rs. 377.65 from Rs. 375.44.

The rupee lost Rs. 1.14, or 0.32%, against the Swiss franc, ending the session at Rs. 352.76. Against the Japanese yen, the rupee edged down by 0.14 paisa, or 0.08%, to close at Rs. 1.8600.

On the other hand, the rupee strengthened by 0.41 paisa, or 0.01%, against the Chinese yuan, closing at Rs. 39.45 from Rs. 39.46. It also gained 0.45 paisa, or 0.01%, against the Saudi riyal to close at Rs. 74.95, and rose by 0.26 paisa, or 0.00%, against the UAE dirham to finish at Rs. 76.54.

So far in the current fiscal year, the rupee has appreciated by Rs. 2.65, or 0.94%, against the US dollar. However, it has declined by Rs. 2.56, or 0.91%, since the start of the calendar year.