Dollar loses 94 paisa against rupee in interbank, reduces to Rs261.88

ISLAMABAD (APP) - Pakistan rupee appreciated by 94 paisa against the US dollar in the interbank trading on Monday and closed at Rs 261.88 against the previous day’s closing of Rs 262.82.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 264.9 and Rs 267.9 respectively.

The price of Euro increased by 37 paisa and closed at Rs 280.18 against the last day’s closing of Rs 279.81. The Japanese Yen gained one paisa to close at Rs1.95, whereas a decrease of Rs 2.16 was witnessed in the exchange rate of the British Pound, which was traded at Rs 315.50 as compared to its last closing of Rs 313.34.

The exchange rates of Emirates Dirham and Saudi Riyal decreased by 25 paisa each to close at Rs 71.30 and Rs 69.82 respectively.

Meanwhile, the 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend, losing 444.97 points, a negative change of 1.08 percent, closing at 40,673.64 points against 41,118.61 points the previous day.

A total of 92,717,662 shares were traded during the day as compared to 110,366,624 shares the previous day, whereas the price of shares stood at Rs 4.461 billion against Rs. 4.677 billion on the last trading day.

As many as 313 companies transacted their shares in the stock market; 65 of them recorded gains and 225 sustained losses, whereas the share price of 23 companies remained unchanged.