KARACHI:The Pakistani rupee took its marathon run against the US dollar to the 12th consecutive session as it appreciated by another Rs1.13 in the interbank market on Thursday.
As per the data obtained from forex traders, the local currency went up by Rs1.13 against the greenback and was currently being exchanging hands at Rs292.75.
On Wednesday, the Pakistani rupee had maintained its upward trajectory against the US dollar, appreciating by 0.35% in the interbank market. At close, the rupee had settled at Rs293.88 after an increase of Rs1.02.
The Pakistani rupee has been on an upward trajectory in recent days and has strengthened nearly 4.5% after hitting a record low of Rs307.1 in the inter-bank market on September 5.
The change in fortune comes as State Bank of Pakistan (SBP) introduced structural reforms in the Exchange Companies’ (ECs) sector and authorities reportedly had launched a crackdown on smuggling, lending support to the currency markets.