Daily Times

The exchange rate of the Pakistan rupee witnessed a devaluation of 13 paisa against the US dollar in the interbank trading on Monday and closed at Rs 278.50 against the previous day’s closing of Rs278.37. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market, however, were Rs 279.9 and Rs 280.65 respectively. The price of the Euro increased by 32 paisa to close at Rs 301.75 against the last day’s closing of Rs 301.43, according to the State Bank of Pakistan (SBP). The Japanese yen remained unchanged and closed at Rs 1.73, whereas an increase of Rs 1.15 was witnessed in the exchange rate of the British Pound, which was traded at Rs 356.87 as compared to the last day’s closing of Rs 355.72. The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 04 paisa each to close at Rs 75.82 and RS 74.24 respectively.