Pakistani Rupee Records 23rd Consecutive Gain Against US Dollar

The Pakistani rupee maintained its upward momentum against the US dollar, appreciating marginally in the inter-bank market on Tuesday. At the close of trading, the rupee settled at Rs. 281.61, marking a gain of Re. 0.01 against the greenback. This marks the rupee’s 23rd consecutive gain against the dollar. On Monday, the local currency had closed at Rs. 281.62. In the open market, however, the buying and selling rates of the dollar stood at Rs. 282.2 and Rs. 283, respectively, according to the Forex Association of Pakistan (FAP). The price of the Euro increased by 25 paisa, closing at Rs. 330.90 compared to the previous day’s closing of Rs. 330.65, as per data from the State Bank of Pakistan (SBP). The Japanese yen saw a slight increase of 01 paisa, closing at Rs. 1.91. Meanwhile, the British Pound experienced a notable rise of Rs. 1.20, trading at Rs. 381.98 compared to Monday’s closing of Rs. 380.78. The exchange rate of the Emirates Dirham remained unchanged, closing at Rs. 76.67. The Saudi Riyal, however, saw a minor increase of 01 paisa, closing at Rs. 75.06.