KARACHI(News desk )The foreign exchange market remained largely steady, with the US Dollar (USD) maintaining its position at PKR 285.90 for buying and PKR 287.10 for selling.
The Euro (EUR) recorded a slight increase, trading at PKR 334.50 (buying) and PKR 336.20 (selling). This uptick is linked to rising business confidence within the Eurozone and a diminishing risk of recession.
The British Pound (GBP) also experienced a modest gain, reaching PKR 388.50 (buying) and PKR 389.95 (selling). This movement is attributed to stronger-than-expected wage growth figures from the UK, which could lead the Bank of England to uphold elevated interest rates for a longer duration.
Meanwhile, the UAE Dirham (AED) and Saudi Riyal (SAR) showed no major changes. The Dirham held steady at PKR 77.85 for buying and PKR 78.10 for selling, while the Riyal remained at PKR 76.25 (buying) and PKR 76.40 (selling).
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