The Rupee continued its positive streak against the US Dollar (USD) on Monday, marking the 44th consecutive day of gains. The Pakistani currency closed at 280.56 against the USD, appreciating slightly by one paisa or 0.002 percent in the interbank market.
On a fiscal year-to-date basis, the Rupee has strengthened by 1.16 percent against the US Dollar. Analysts say this consistent performance indicates market confidence in Pakistan’s currency despite global economic uncertainties.
While the Rupee showed resilience against the USD, it experienced mixed results against other major currencies. It fell against the UAE Dirham (AED), Canadian Dollar (CAD), and Australian Dollar (AUD), while recording gains against the Saudi Riyal (SAR).
Specifically, the Rupee lost 68 paisas against the CAD and Rs. 1.41 against the AUD. Its slight appreciation against the SAR reflects selective stability in regional currencies, influenced by ongoing trade and economic factors.
Experts highlight that while the Rupee’s continuous gains against the USD are encouraging, fluctuations against other currencies suggest the market remains sensitive to external conditions. Global trade trends, oil prices, and foreign inflows are among the factors affecting currency movements.
Financial authorities continue to monitor the Rupee closely to maintain stability and support economic growth. Measures to strengthen reserves and manage currency volatility remain a priority for policymakers.
Investors and traders are advised to follow daily currency updates to navigate market trends. The Rupee’s performance against the US Dollar shows promise, but careful monitoring is essential for sustainable gains across all major currencies.
In other related news also read Rupee Gains Against US Dollar For 39th Consecutive Day
The ongoing appreciation streak underscores cautious optimism in Pakistan’s currency market, highlighting efforts to balance external pressures while maintaining confidence in the Rupee.
