Pakistani rupee records 9th consecutive surge, gains Rs1.04 against US dollar

In the currency markets, the Pakistani rupee (PKR) maintained its winning streak for the 9th consecutive week, appreciating by 1.04 rupees against the US dollar.

The local unit closed at PKR 280.36 per USD, showcasing resilience in the face of economic fluctuations. During today’s trading session, the PKR experienced fluctuations, reaching an intraday high bid of 279 and a low ask of 281.5.

Exchange companies in the open market quoted the dollar at 279.15 for buying and 281.50 for selling, reflecting the ongoing strength of the PKR against the greenback.

Notably, the PKR also demonstrated gains against major currencies, gaining 78.58 paisa against the Euro, closing at 307.85.

The British Pound saw a decrease of 58.38 paisa, settling at 358.18, while the Swiss Franc experienced losses of 1.41 rupees, closing at 329.08.

However, the Japanese yen posed a slight challenge, as the PKR lost 0.09 paisa, closing at 1.934 against 1.933 from the previous session.

Overall, the PKR’s robust performance against the US dollar and several major currencies underscores the resilience and stability of Pakistan’s currency in the global financial landscape.