Weekend discount: US dollar gets cheaper in open market
A currency dealer holds up bundles of the US dollar in Karachi. PHOTO: ONLINE/FILE
With the US dollar losing ground in the interbank, it continued to become cheaper in the open market with those looking to exchange rupees or other currencies for the US dollars getting a little more for their money.
According to the official rate list for foreign currencies issued by the Forex Association of Pakistan (FAP) on Saturday, if you buy a single US dollar today, it will cost around Rs210.
On Friday, the last working day for the currency markets, the US dollar lost around Rs3.39 in the interbank while in the open market, it was being traded for Rs212.50
The impact was seen in the prices of other currencies as well, most of which saw reductions of up to a rupee.
Saudi Riyals became cheaper by Rs1.10, the UAE Dirham became cheaper by 80 paisas, Euros by Rs4, UK Pound Sterling by Rs3, Australian Dollars by Rs3 and Canadian Dollars by Rs4.
The Afghani also became cheaper by 10 paisas.
Only the Chinese Yuan became expensive by 50 paisas while the price of the Indian rupee remained unchanged.
| Currency | Buying | Selling |
|---|---|---|
| US $ | 208.00 | 210.00 |
| Saudi Riyal | 55.20 | 56.20 |
| UAE Dirham | 56.50 | 57.50 |
| Euro € | 213 | 216 |
| UK Pound £ | 252.00 | 255.00 |
| Japanese Yen ¥ | 1.52077 | 1.54077 |
| Australian $ | 147.00 | 149.00 |
| Canadian $ | 161.00 | 163.00 |
| Indian Rupee ₹ | 2.35 | 2.65 |
| Chinese Yuan ¥ | 33.00 | 34.00 |
| Afghan Afghani | 1.60 | 1.90 |
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