Rupee gains Rs1.03 against Dollar,closed at Rs281.65

The buying and selling rates of the US dollar in the open market stood at Rs278.75 and Rs281.65 respectively.

The price of the Euro decreased by Rs1.60 to close at Rs296.43 against the last day’s closing of Rs298.03, according to the State Bank of Pakistan (SBP).

The exchange rates of the Emirates Dirham and the Saudi Riyal declined by 28 and 29 paisa to close at Rs76.68 and Rs75.08 respectively.

On September 6, the caretaker government adopting a ‘zero-tolerance’ stance towards the smuggling and hoarding.

Pakistani rupee started gaining against the dollar and since September 5 it witnessed around Rs 25.44 appreciation and Rs281.65 in interbank trading during 23 consecutive recovery sessions, as of October 9.