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Rupee weakens against dollar

ISLAMABAD: The exchange rate of Pakistani rupee weakened by 09 paisas against US dollar in the interbank trading on Wednesday.

The interbank trading closed at Rs166.52 as compared to the last closing of Rs166.43.

However, according to Forex Association of Pakistan, the buying and selling rates of dollar in open market were recorded at Rs166 and Rs 166.5 respectively.

The State Bank of Pakistan reported that in interbank trading, the price of euro depreciated by 58 paisas and closed at Rs196.07 against the last day’s trading of Rs196.65.

The Japanese Yen gained one paisa to close at Rs1.57, whereas a decrease of Rs2.24 was witnessed in the exchange rate of British Pound which was traded at Rs 215.66 as compared to its last closing of Rs218.42.

The exchange rates of Saudi Riyal and Emirates Dirham also increased by 03 paisas and 02 paisas to close at Rs 44.40 and Rs 45.33 respectively.

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.