ISLAMABAD: The exchange rate of Pakistani rupee strengthened by 29 paisas against US dollar in the interbank trading on Wednesday and closed at Rs160.62 against the previous day's closing of Rs 160.91.

Meanwhile, according to Forex Association of Pakistan, the buying and selling rates of dollar in the open market were recorded at Rs 160.4 and Rs 161.2 respectively.

In interbank trading, the price of euro depreciated by Rs 1.06 and closed at Rs 188.81 against the last day’s trading of Rs 189.87, State Bank of Pakistan reported.

The Japanese Yen gained one paisa to close at Rs 1.54, whereas a decrease of 34 paisas was witnessed in the exchange rate of British Pound which was traded at Rs 208.91 as compared to its last closing of Rs 209.25.

The exchange rates of Emirates Dirham and Saudi Riyal declined by 08 paisas each to close at Rs 43.72 and Rs 42.82 respectively.