Rupee’s Record-Breaking Streak Against Dollar Hits 22 Days

The Pakistani rupee continued its upward trajectory against the US dollar, appreciating by 0.01% in the inter-bank market on Monday. At the close of trading, the rupee settled at Rs. 281.62, marking a gain of Rs. 0.03 against the greenback. This marks the rupee’s 22nd consecutive session of gains against the US dollar, reflecting a sustained positive trend in the currency market. During the previous week, the rupee also ended on a positive note, gaining Rs. 0.12 or 0.04% in the inter-bank market. However, in the open market, the dollar was being traded at Rs. 282.2 for buying and Rs. 283 for selling, according to the Forex Association of Pakistan (FAP). Meanwhile, the Euro saw a significant increase of Rs. 1.78, closing at Rs. 330.65, compared to the previous day’s closing of Rs. 328.87, as per data from the State Bank of Pakistan (SBP). The Japanese yen remained stable, closing at Rs. 1.90, while the British pound experienced a rise of Rs. 1.54, trading at Rs. 380.78, up from the previous day’s closing of Rs. 379.24. On the other hand, the exchange rates of the Emirates Dirham and the Saudi Riyal saw a slight decline of 01 paisa each, closing at Rs. 76.67 and Rs. 75.05, respectively.