PKR Hits 230-Session High, Extends Record Appreciation Streak
The Pakistani rupee (PKR) has extended its record appreciation streak to 230 consecutive sessions, marking a significant milestone for the local currency. According to Mettis Global, the PKR edged higher against the US dollar on Wednesday, closing at PKR 277.45 per US dollar and gaining 1.23 paisa from Tuesday's settlement of PKR 277.46.
The rupee traded within a narrow range during the session, with an intraday high bid recorded at PKR 277.50 and a low ask at PKR 277.45. In the open market, exchange companies quoted the US dollar at PKR 278.00 for buying and PKR 278.50 for selling.
The rupee's appreciation streak has also translated into significant gains against most major currencies. Against the euro, the PKR appreciated by 29.18 paisa or 0.09%, settling at 321.32 compared with 321.61 a day earlier. Similarly, against the British pound, the local unit gained 65.49 paisa or 0.17% to settle at 374.91 versus 375.56 in the previous session.
On a broader basis, the rupee has strengthened by 71.00 paisa or 0.26% against the US dollar during the current fiscal year. Since the start of the calendar year, PKR has appreciated by Rs2.67, equivalent to 0.96%, against the greenback.