ISLAMABAD: The exchange rate of Pakistan rupee depreciated by Rs 1.07 against the US dollar in interbank trading on Wednesday and closed at Rs166.27 as compared to the previous day’s closing of Rs165.20.

According to Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs165 and Rs166 respectively.

The dollar has raised by 14 rupees since May 7, 2021and has gained 9.2% since the mentioned date.

According to the experts rising dollar will exert pressure on debt servicing by 1540 billion rupees.

Similarly, the price of euro was appreciated by Rs 1.62 and closed at Rs195.40 against the last day’s trading of Rs193.78, the State Bank of Pakistan reported.

The Japanese Yen gained one paisas to close at Rs1.51, likewise an increase of Rs2.03 was witnessed in the exchange rate of British Pound, which was traded at Rs228.36 as compared to its last closing of Rs226.33.

The exchange rates of Emirates Dirham and Saudi Riyal increased by 28 paisas each to close at Rs 45.26 and Rs 44.33 respectively.