Rupee sheds Rs2.25 against dollar in interbank trading

ISLAMABAD (APP) - Pakistan rupee weakened by Rs2.25 against the dollar in the interbank trading on Tuesday and closed at Rs 287.29 against the previous day’s closing of Rs 285.04.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 288.5 and Rs 291 respectively.

The price of the Euro increased by Rs 4.54 which closed at Rs 313.43 against the last day’s closing of Rs 308.89, according to the State Bank of Pakistan (SBP). The Japanese Yen gained 3 paisas to close at Rs 2.16; whereas an increase of Rs 6.18 was witnessed in the exchange rate of the British Pound, which traded at Rs 357.33 as compared to its last day’s closing of Rs 351.15.

The exchange rate of the Emirates Dirham increased by 61 paisas to close at Rs 78.22 and Saudi Riyal witnessed an increase of 65 paisas to close at Rs 76.59.

Meanwhile, the 100-index of the Pakistan Stock Exchange (PSX) declined by 202.64 points on Tuesday, showing a negative change of 0.51 percent, closing at 39,687.26 points against 39,889.90 points the previous day.

A total of 83,255,062 shares were traded during the day as compared to 74,430,002 shares the previous day, whereas the price of shares stood at Rs 2.186 billion against Rs 1.750 billion on the last trading day.

As many as 318 companies transacted their shares in the stock market; 108 of them recorded gains and 190 sustained losses, whereas the share price of 20 companies remained unchanged.