The State Bank of Pakistan reported that in interbank, the price of euro depreciated by 38 paisas to close at Rs. 195.01 against the last day’s trading of Rs. 195.39.
The world’s reserve currency has been tumbling since May and was dumped in recent days as cracks in the U.S. coronavirus recovery and crumbling yields sent investors elsewhere.
The U.S. Federal Reserve’s policy-setting panel meets on Tuesday and Wednesday, where it is expected to reiterate it will keep interest rates near zero for years to come.
The State Bank of Pakistan reported that in interbank, the price of euro appreciated by 04 paisas to close at Rs. 194.26 against the last day’s trading of Rs. 194.22.