PKR Up 30th Consecutive Day Against US Dollar

The Pakistani rupee (PKR) closed in green against the US Dollar (USD) 30th day in a row on Wednesday. It also posted gains against most of the other major currencies during today’s session. The PKR appreciated by 0.003 percent DoD and closed at 280.86 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has gained 1.09 percent against the US Dollar. PKR has been on a big run ever since the past few months brought Pakistan into the United States’ good graces. On September 25, President Donald Trump hosted Prime Minister Shehbaz Sharif and Pakistan’s army chief at the White House. Analysts opine that this helped change several things for Pakistan. The rupee has been recovering nonstop since Trump embraced Pakistani leaders. Business-wise, it could mean more investments and the International Monetary Fund loosening its grip on Pakistan’s financial affairs. The PKR was green against most of the other major currencies in the interbank market today. It was stable against the UAE Dirham (AED) and also the Saudi Riyal (SAR). Meanwhile, it gained 75 paisas against the Canadian Dollar (CAD). The rupee gained 56 paisas against the Australian Dollar (AUD) in today’s interbank currency market. It gained 90 paisas against the Euro (EUR) and Rs. 2.09 against the British Pound (GBP).