KARACHI: The Pakistani rupee registered 08 paisa appreciation in its value against the US dollar in the interbank market on Monday, ARY News reported.
According to foreign currency dealers, the local unit appreciated by 08 paisa to 163.49 against the greenback as compared to yesterday’s closing of 163.57
The buying and selling rates of the dollar in the open market were recorded at Rs160.5 and Rs162.5 respectively.
According to SBP, the price of Euro appreciated by 89 paisas to close at Rs178.10 against the last day’s trading of Rs177.21.
The Japanese yen remained stable at Rs1.51 whereas an increase of 56 paisas was witnessed in the exchange rate of British Pound which was traded at Rs204.23.
The exchange rates of Saudi Riyal and Arab Emirates Dirham depreciated by 02 paisas each to close at Rs43.56 andRs44.51 respectively.
It must be noted that State Bank of Pakistan (SBP) last week further slashed its key interest rate by two per cent (200 basis points) to nine per cent in wake of the worsening outlook for global and domestic economic activity due to the coronavirus pandemic.
Over the past one month, the central bank’s key interest rate has seen a cumulative reduction of 4.25 per cent.
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