The Pakistani Rupee continued its upward trend for the eighth day in a row on Friday. It gained 15 paisas against the US Dollar, closing at 282.71 in the interbank market. This steady rise reflects a positive sentiment in the currency market.
According to data, the Rupee remained stable throughout the day. Open market rates stayed between Rs. 283 and Rs. 285 per dollar. Some sellers in Islamabad quoted as high as Rs. 285.
The Rupee also showed strength against other major currencies. It appreciated four paisas against both the UAE Dirham and the Saudi Riyal. It gained 52 paisas against the Canadian Dollar and 84 paisas against the Australian Dollar.
The British Pound (GBP), however, remained strong. It was selling between Rs. 376 and Rs. 380 in the open market. Just four weeks ago, the Pound was priced at Rs. 396. This shows the Rupee has gained almost Rs. 22 against the GBP in one month.
The Exchange Companies Association of Pakistan (ECAP) reported the GBP buying rate at Rs. 379. This was confirmed across multiple currency counters in major cities.
So far this fiscal year, the Rupee has lost 1.37% against the US Dollar. However, its recent recovery offers some relief to the market and traders. Experts believe improved inflows and tighter regulations are helping stabilize the currency.
The Rupee’s performance against global currencies continues to be watched closely. Analysts say its future will depend on economic reforms, global trends, and upcoming IMF developments.
Overall, the Rupee has shown resilience in recent days, offering hope for better currency stability ahead.
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