Rupee gains 244 paisa on Saudi support package

Rupee gains 244 paisa on Saudi support package

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KARACHI: Pakistani rupee bounced back on Wednesday to gain substantial 244 paisa against the US dollar after Saudi Arabia announced a support package of $4.2 billion— closed at 172.78 against the greenback.
However, the buying and selling rates of dollar in open market were recorded at Rs 173.84 and Rs 174.20 respectively. Meanwhile, the price of euro which was traded at Rs 200.55, depreciated by Rs 2.72 as compared to its last closing of Rs 203.27.
The Japanese yen lost two paisa to close at Rs 1.51, whereas a decrease of Rs 3.56 was witnessed in the exchange rate of British pound, which was traded at Rs 237.74 as compared to its last closing of Rs 241.30. The exchange rates of United Arab Emirates dirham and Saudi riyal decreased by 68 paisa each to close at Rs 47.03 and Rs 46.06 respectively.