The Pakistani Rupee (PKR) strengthened against the US Dollar (USD) for the 36th consecutive day on Friday. It closed slightly higher, continuing its impressive winning streak.
Today, the Rupee gained four paisas against the US Dollar, closing at 280.72. On a fiscal year-to-date (FYTD) basis, the Rupee has appreciated by 1.13 percent against the USD. Analysts say this reflects growing market confidence in the local currency.
The Rupee also posted gains against most other major currencies in the interbank market today. It increased by one paisa against the UAE Dirham (AED) and remained stable against the Saudi Riyal (SAR).
Other notable movements included a gain of 70 paisas against the Canadian Dollar (CAD) and Rs. 1.51 against the Australian Dollar (AUD). The Rupee fell slightly against the Euro (EUR), losing 36 paisas, but gained 29 paisas against the British Pound (GBP).
Currency experts say the Rupee’s continued strength is due to balanced foreign exchange demand and supply. Exports and remittances have supported the currency, while market interventions have helped maintain stability.
The 36-day winning streak highlights the Rupee’s resilience amid global economic uncertainty. Investors and businesses closely monitor the Rupee’s performance, as stability helps reduce import costs and improves economic planning.
The State Bank of Pakistan continues to oversee foreign exchange rates and ensures measures are in place to support the Rupee. Market watchers expect the currency to maintain stability against the US Dollar in the near term, provided external pressures remain manageable.
In other related news also read Inter-Bank Sees Slight Rupee Gain Versus Dollar
Overall, the Rupee’s steady gains show gradual recovery and increased confidence in Pakistan’s currency. Analysts say consistent monitoring and supportive policies are key to maintaining this positive trend in the coming months.
