Rupee Further Strengthens Against Dollar


Rupee further strengthens against Dollar

Following the slight decline, dollar is being traded at Rs159.75 in the interbank.

Islamabad (Pakistan Point News – 31st July, 2019) Pakistani rupee continues to strengthen against the US dollar as it gained another 30 paisa in the interbank market on Wednesday.

Following the slight decline, dollar is being traded at Rs159.75 in the interbank.

The Pakistani rupee appreciated by 45 paisa in the interbank market on Tuesday. Dollar was traded at Rs160 in the interbank following the slight decrease.

Similarly, rupee gained 20 paisa in the open market on Tuesday and was traded for Rs160.50.

Media reports said that the value of US dollar has declined due to increase in forex reserves. Reports added that the foreign exchange will further increase before Eid.

The exchange rate of dollar dipped by 33 paisa in interbank and traded at Rs 160.45 as compared to the last closing of Rs 160.78, State Bank of Pakistan (SBP) reported last week.

However according to Forex association of Pakistan the buying and selling rates of dollar in open market were recorded at Rs 160.20 and Rs 160.70 respectively.

The SBP further reported that in interbank, the price of Euro decreased by 54 paisa and traded at Rs 178.55 as compared to last closing of Rs 179.09.

The exchange rate of Japanese Yen remained constant at Rs 1.48, whereas the decrease of 55 paisa was witnessed in exchange rate of British Pound which was traded at Rs 200.09 as compared with last closing of Rs 200.64.

Exchange rates of UAE Dirham and Saudi Rayal dipped by 09 paisa each after which they were traded at Rs 43.68 and Rs 42.78 against Rs 43.77 and Rs 42.87 respectively.

Mahnoor Sheikh

The writer is News Editor, Pakistan Point. She has graduated in Mass Communication and has worked in various media houses