The Pakistani rupee continued its steady appreciation against the US dollar on Wednesday, marking its 176th consecutive session in positive territory.

According to interbank market data, the rupee closed at 278.36 per US dollar, gaining one paisa compared to the previous session. The local currency has maintained a gradual strengthening trend over recent months, supported by relative stability in foreign exchange markets.

In the latest trading session, the rupee showed mixed performance against other major currencies. It remained largely stable against the UAE dirham and Saudi riyal, reflecting their peg to the US dollar.

Against other currencies, the rupee strengthened by Rs. 1.04 versus the Australian dollar and stayed almost unchanged against the Canadian dollar. However, it depreciated by 47 paisas against the British pound and 33 paisas against the euro.

Currency-wise movements also showed minor fluctuations in other pairs, with limited day-to-day volatility across Asian and European currencies.

Market observers note that the rupee’s sustained streak of gains against the dollar reflects continued short-term stability in the exchange market, though movements remain narrow on a daily basis.