The Exchange Companies Association of Pakistan (ECAP) released the latest currency exchange rates, showing a modest increase across various currencies as of May 16, Friday. The exchange rate for the US Dollar saw a slight rise, with buying at 282.65 and selling at 283.75, compared to the previous day’s rates of 282.50 and 283.75.
The Euro exhibited a marginal increase, trading at 315.96 for buying and 318.56 for selling, up from 315.85 and 318.53. The British Pound also experienced an uptick, with buying at 375.51 and selling at 378.70, compared to 374.67 and 377.76 the day before.
Meanwhile, the Japanese Yen remained stable, maintaining a steady rate of 1.91 for buying and 1.96 for selling. The United Arab Emirates Dirham and the Saudi Riyal showed slight increases, with the Dirham trading at 76.99 for buying and 77.45 for selling, while the Saudi Riyal stood at 75.26 for buying and 75.70 for selling.
The interbank rates similarly reflected a small rise, moving from 281.61 for buying and 281.81 for selling to 281.66 and 281.86. ECAP emphasized that these rates are indicative and subject to daily fluctuations.