The Euro and British Pound experienced a significant appreciation in the open market on Friday, with the single European currency trading as high as 332.49 and the Pound Sterling reaching 381.95, according to data released by the Exchange Companies Association of Pakistan.
These elevated rates for two major international currencies signal mounting pressure on the local monetary unit, affecting trade and foreign exchange reserves. The Euro”s trading band was recorded between 329.28 and 332.49, while the Pound Sterling fluctuated between 378.50 and 381.95.
Meanwhile, the United States Dollar remained relatively stable. In the open market, the greenback was quoted at 281.60 for buying and 282.15 for selling. The interbank market showed a narrower spread, with the dollar closing between 281.10 and 281.30.
Other key currencies also reflected shifts in the foreign exchange market. The Japanese Yen was valued between 1.85 and 1.91. Currencies from the Gulf region also saw movement, with the UAE Dirham being exchanged between 76.79 and 77.58, and the Saudi Riyal trading from 75.07 to 75.64.
The figures provided by the association offer a comprehensive snapshot of the day”s currency trading activities, closely watched by businesses and individuals involved in international transactions.