Rupee Makes Slight Recovery Against US Dollar

(@fidahassanain)

Rupee makes slight recovery against US dollar

US dollar's exchange rate fell by Rs. 0.22 in the interbank against Pakistani rupee which closed at Rs. 160 against the last closing Rs. 160.22.

KARACHI: (UrduPoint/Pakistan Point News-May 8th, 2020) Following closure of US dollar at Rs. 160 in the interbank market, the rupee slightly made recovery here on Friday.

The exchange rate of Dollar fell by Rs. 0.22 in the interbank against Pakistani rupee which closed at Rs. 160 against the last closing Rs. 160.22.

The latest reports showed that pakistan stock exchange continued with bullish trend as KSE 100-index closed at 33,201.07 points with highest recorded as 33,501.30 and lowest as 33,159.05. The recorded value is 2,422,169, 812 with -0.31 percent change.

According to forex Association of Pakistan, the buying and selling rates of dollar in open market were recorded at Rs 159.5 and Rs 161 respectively.

The State Bank of Pakistan (SBP) reported that in interbank, the price of euro appreciated by 33 paisas to close at Rs 173.08 against the last day s trading of Rs 172.75.

The Japanese Yen remained stable at Rs 1.50 whereas an increase of 19 paisas was witnessed in the exchange rate of British pound which was traded at Rs 198.18 as compared to its last closing of Rs 197.99.

The exchange rates of Saudi Riyal and Arab Emirates Dirham appreciated by 05 paisas each to close at Rs 42.65 and Rs 43.62 respectively.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.