Rupee sheds 50 paisa against dollar in interbank trading

ISLAMABAD (APP) - Pakistani rupee on Wednesday witnessed a 50-paisa depreciation against US dollar in the interbank trading and closed at Rs 286.89 against the previous day’s closing at Rs 286.39.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 286.5 and Rs 289 respectively.

The price of the Euro decreased by 21 paise to close at Rs 306.00 against the last day’s closing of Rs 306.21.

The Japanese Yen remained unchanged as it closed at Rs 1.90; whereas a decrease of Rs1.06 was witnessed in the exchange rate of the British Pound, which traded at Rs351.47 as compared to the last closing of Rs352.53.

The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 14 and 13 paisa to close at Rs78.11 and Rs76.47 respectively.

Meanwhile, the 100-index of Pakistan Stock Exchange (PSX) witnessed bullish trend, gaining 525.70 points, a positive change of 0.98 percent, closing at 54,261.43 points against 53,735.73 points the previous day.

A total of 482,744,893 shares valuing Rs20.129 billion were traded during the day as compared to 506,075,439 shares valuing Rs18.259 billion the previous day.

On the other hand, the per tola price of 24-karat gold increased by Rs200 and was sold at Rs214,200 compared to its sale at Rs214,000 on the last trading day. The price of gold in the international market remained constant at US$1,988.