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Rupee increases against the dollar by 99 paisas

ISLAMABAD- Against the US dollar, the Pakistani rupee gained 99 paisas on Wednesday in interbank trade, finishing at Rs279.51 as opposed to Rs280.50 the day before. This marked the 25th straight recovery session for the currency. The open market exchange rates for the dollar were, however, Rs. 276.5 and Rs. 279.25, respectively, according to the Forex Association of Pakistan (FAP). In comparison to the previous day’s closing of Rs297.54, the price of the Euro dropped by Rs1.23 to settle at Rs 296.31 according to the State Bank of Pakistan (SBP). The British pound’s currency rate dropped by 96 paisas to trade at Rs343.15 from its previous closing of Rs344.11 while the Japanese yen lost one paisa to conclude at Rs1.87. The currency rates for the Saudi riyal and the emirates dirham both fell by 26 paisas to settle at Rs. 74.52 and Rs. 76.09, respectively.