PKR logs 255th straight session of gains against USD

According to Mettis Global, the rupee has now gained for 255 sessions in a row against the US dollar. On Wednesday it closed the interbank market at Rs277.02 per dollar, up 3.31 paisa from the prior close of Rs277.05. Within the day it moved between Rs277.00 and Rs277.10, while exchange companies in the open market quoted the greenback at Rs277.25 for buying and Rs280.10 for selling.

The rupee also firmed against the euro, rising Rs1.33, or 0.43 per cent, to Rs310.10 from Rs311.42. Sterling gained 1.61 paisa to Rs366.76, and the Swiss franc climbed 61.92 paisa, or 0.19 per cent, to Rs332.44. The yen weakened slightly, while the Chinese yuan, Saudi riyal and UAE dirham each edged higher.

Across the current fiscal year, the rupee has firmed Rs1.14, or 0.41 per cent, against the dollar, and Rs3.10, or 1.12 per cent, since the calendar year began. In the money market, the six-month Karachi Interbank Bid and Offer rates eased by one basis point to 12.13 per cent and 12.38 per cent, respectively.