The rupee continued to recover against the US Dollar on Tuesday.
Tuesday witnessed the 11th consecutive recovery session of the local currency as it gained Rs1.04 against the greenback in the interbank trading.
The US Dollar closed at Rs 294.90 against the previous day’s closing of Rs 295.94.
— SBP (@StateBank_Pak) September 19, 2023
According to the Forex Association of Pakistan (FAP), the buying and selling rates of the US dollar in the open market stood at Rs 295.6 and Rs 298.5 respectively.
The rates of other foreign currencies also showed a downward trend.
According to the State Bank of Pakistan (SBP):
Euro decreased by 34 paisa to close at Rs315.28 against the last day’s closing of Rs 315.62
Japanese Yen also came down by 1 paisa to close at Rs 1.99.
The British Pound after a decrease of Rs 1.09, traded at Rs365.32 as compared to the last closing of Rs366.41.
Meanwhile, the Emirates Dirham and the Saudi Riyal declined by 28 and 27 paisa to close at Rs 80.29 and Rs 78.62 respectively.