Rupee sheds Rs1.40 against US dollar in interbank trading

ISLAMABAD (APP) - Pakistani rupee on Wednesday witnessed an Rs1.40 devaluation against the US dollar in the interbank trading and closed at Rs304.45 against the previous day’s closing of Rs303.05.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs320 and Rs323 respectively.

The price of the Euro increased by Rs3.21 paisa to close at Rs 330.77 against the last day’s closing of Rs327.56, according to the State Bank of Pakistan (SBP). The Japanese Yen went up by 01 paisa and stood at Rs2.07, whereas an increase of Rs2.73 was witnessed in the exchange rate of the British Pound, which traded at Rs384.83 as compared to the last closing of Rs382.10.

The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 37 paisa each to close at Rs82.88 and Rs81.37 respectively.

On the other hand, the 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend and shed 525.86 points, showing negative change of 1.12 percent, closing at 46,244.56 points against 46,770.42 points the previous trading day.

A total of 200,288,813 shares were traded during the day as compared to 217,852,268 shares, whereas the trading value of shares was recorded at Rs 8.987 billion against Rs 8.280 billion on the last trading day.