Pakistani Rupee Reels as British Pound and Euro Surge in Open Market

The Pakistani Rupee faced significant pressure in the open market on Wednesday, with the British Pound Sterling climbing to a trading high of 376.76 and the Euro reaching up to 330.62, according to the latest figures.

The US Dollar also showed strength against the local currency, being quoted at 281.46 for buying and 282.00 for selling. In the interbank market, the greenback concluded its trading day between 280.95 and 281.15.

Other major currencies also recorded high values against the domestic unit. The Saudi Riyal was traded between 75.05 and 75.66, while the UAE Dirham was exchanged at a band of 76.80 and 77.58.

Meanwhile, the Japanese Yen was priced between 1.83 and 1.89. The data on these currency exchange valuations was released by the Exchange Companies Association of Pakistan at the close of business.