KARACHI: Pakistani rupee’s winning streak against the US dollar completed the 19th consecutive session in the interbank market on Tuesday with appreciation of another Rs1.04. The State Bank of Pakistan (SBP) said in a tweet that the rupee opened at 286.76 against the dollar in the interbank market and closed at 285.72, showing an appreciation of 0.36 percent. Meanwhile, the local unit appreciated for the 20th consecutive session in the open market by gaining Re1 and was quoted in the range of 283-286 a dollar against 284-288 a session earlier. The rupee has appreciated by Rs48 in the last 20 sessions. The local currency has significantly gained in the past four weeks, with analysts attributing the rise to an ongoing crackdown on illegal dollar outflows. Currency dealers in the interbank said exporters have been selling dollars on a large scale, fearing further devaluation. TLTP
