The Pakistani rupee exhibited signs of pressure in the open market on Friday, with the US dollar trading at a noticeable premium compared to its value in the interbank market, according to figures released by the Exchange Companies Association of Pakistan.
Data indicated that the American currency was quoted for purchase at PKR 279.70 and for sale at PKR 280.45 in the open market. In contrast, the interbank rates for the greenback were recorded at PKR 279.40 and PKR 279.60 for buying and selling, respectively, highlighting a divergence between the two markets.
Among other major currencies, the pound sterling was the most expensive foreign unit. The British currency was available for buying at PKR 373.90 and for selling at PKR 377.45.
The euro also maintained a strong position against the local unit. The common European currency was trading at a purchase price of PKR 324.65 and a selling price of PKR 327.93.
In the Middle Eastern currency segment, the UAE Dirham was valued at PKR 75.99 for buying and PKR 76.93 for selling. The Saudi Riyal was quoted with a buying rate of PKR 74.18 and a selling rate of PKR 75.12.
The Japanese Yen registered buying and selling prices of PKR 1.74 and PKR 1.81, respectively.