The Pakistani rupee showed signs of strain against major global currencies on Thursday, with the Euro and the British Pound Sterling commanding exceptionally high rates in the open market, according to data released by the Exchange Companies Association of Pakistan.
The US dollar, a key benchmark for the economy, was quoted at Rs. 281.45 for buying and Rs. 281.96 for selling in the open market. A marginal difference was noted in the interbank market, where the greenback was traded at Rs. 280.92 and Rs. 281.12 for buying and selling, respectively.
European and British currencies demonstrated considerable strength against the local unit. The Euro was available for purchase at Rs. 326.85 and sold at a higher rate of Rs. 330.10. The Pound Sterling was even more expensive, with a buying rate of Rs. 372.14 and a selling rate of Rs. 376.25.
In transactions involving other significant currencies, the Japanese Yen was valued between Rs. 1.82 and Rs. 1.89. The UAE Dirham was exchanged at Rs. 76.77 for buying and Rs. 77.56 for selling, while the Saudi Riyal was recorded at Rs. 75.02 and Rs. 75.64 for buying and selling rates.