Pakistani Rupee Extends Winning Streak Against US Dollar
The Pakistani rupee continued its upward momentum on Tuesday, marking its 28th consecutive gain against the US dollar in the inter-bank market.
According to the State Bank of Pakistan, the local currency closed at Rs. 281.51 against the dollar, compared to Monday’s closing of Rs. 281.52, showing a slight appreciation of one paisa.
Open Market Rates
The Forex Association of Pakistan reported that the dollar was quoted at Rs. 282.35 for buying and Rs. 282.55 for selling in the open market.
Other Major Currencies
-
The euro gained Rs. 1.66, closing at Rs. 332.01 compared to Rs. 330.35 a day earlier.
-
The Japanese yen edged up by one paisa to Rs. 1.91.
-
The British pound rose by Rs. 1.22, settling at Rs. 383.61 from Rs. 382.39 previously.
-
The UAE dirham remained steady at Rs. 76.64.
-
The Saudi riyal inched up by one paisa to Rs. 75.05.
The continued strengthening of the rupee is seen as a positive development for currency stability, though analysts note that broader economic trends will determine how long this streak can be sustained.
