The Pakistani rupee (PKR) extended its appreciation against the US dollar for a 186th consecutive interbank session on Wednesday, ending the day with a marginal gain of one paisa.
According to the State Bank of Pakistan (SBP), the rupee closed at Rs. 278.2022 per US dollar, compared to Rs. 278.2116 a day earlier.
The local currency finished the shortened trading week on a positive note ahead of the Ashura holidays on the 9th and 10th of Muharram. Market sentiment also remained supported by reports that Pakistan-mediated technical-level talks between the United States and Iran concluded positively, with Qatar also playing a facilitating role.
If the current trend continues, the rupee could strengthen beyond the Rs. 277 per dollar level by the end of June.
Among other major currencies, the rupee posted notable gains against the Euro and the British Pound, appreciating by Rs. 1.7078 and Rs. 1.2366, respectively. It also strengthened by Rs. 1.4114 against the Australian Dollar and Rs. 0.7792 against the Canadian Dollar.
The rupee remained nearly unchanged against the UAE Dirham, gaining 0.0046 rupees, while it slipped by 0.0172 rupees against the Saudi Riyal. It also weakened against the Malaysian Ringgit, losing 0.1195 rupees, but gained 0.1102 rupees against the Chinese Yuan.
