The Pakistani rupee showed signs of strain in the open market on Friday, with the US dollar”s selling rate climbing to Rs 280.36, creating a more pronounced divergence from the official interbank closing value of Rs 279.51.
According to figures released by the Exchange Companies Association of Pakistan, the American currency was being bought at Rs 279.53 in the open market, while the interbank buying rate was slightly lower at Rs 279.31.
The single European currency also demonstrated strength against the local unit. The Euro was quoted for purchase at Rs 320.69 and for sale at Rs 324.34.
Similarly, the British pound sterling maintained a high value, with its buying rate recorded at Rs 372.09 and its selling rate reaching Rs 376.02 in currency dealings.
In trading involving other significant international currencies, the Japanese yen was valued between Rs 1.73 for buying and Rs 1.79 for selling.
Currencies from the Middle East also saw updated valuations, with the UAE dirham being exchanged at Rs 75.79 (buying) and Rs 76.74 (selling). The Saudi riyal was priced at Rs 73.92 for purchase and Rs 74.83 for sale.