Pakistani Rupee Posts 26th Straight Gain Against US Dollar

The Pakistani rupee extended its positive run against the US dollar on Friday, appreciating slightly in the interbank market. The local currency closed at Rs. 281.55, up Rs. 0.01 from the previous day. This marked the rupee’s 26th consecutive gain against the greenback. On Thursday, the rupee had settled at Rs. 281.56. According to the Forex Association of Pakistan, the US dollar was quoted in the open market at Rs. 282.5 for buying and Rs. 282.8 for selling. The State Bank of Pakistan reported that the euro rose by Rs. 1.20, closing at Rs. 330.40 compared to the previous day’s Rs. 329.20. The Japanese yen remained unchanged at Rs. 1.90, while the British pound gained Rs. 1 to settle at Rs. 381.56, up from Rs. 380.56 a day earlier. The exchange rate of the UAE dirham inched up by one paisa to close at Rs. 76.66, whereas the Saudi riyal held steady at Rs. 75.04.