The Pakistani Rupee (PKR) strengthened against the US Dollar (USD) for the 46th consecutive day on Friday. Despite the modest gains, the Rupee posted mixed results against other major currencies during the session.
The Rupee appreciated by 0.001 percent day-on-day, closing at 280.55 against the US Dollar. Market analysts say that while the daily gain is minimal, the continuous upward trend highlights stability in the interbank currency market.
In other currency movements, the Rupee gained against the UAE Dirham (AED) and Saudi Riyal (SAR). It also strengthened by 11 paisas against the Australian Dollar (AUD). However, it lost two paisas against the Canadian Dollar (CAD), reflecting mixed performance in the broader foreign exchange market.
Traders noted that the Rupee’s sustained appreciation against the US Dollar is supported by stable foreign exchange inflows and active market management. The 46-day positive streak indicates growing investor confidence in the local currency.
Experts caution that the Rupee’s performance against other major currencies remains variable. Gains against the US Dollar provide some relief for importers and consumers, but fluctuations against currencies like CAD and AUD require careful attention from businesses and financial institutions.
The State Bank of Pakistan and market authorities continue to monitor exchange rate trends closely. Their interventions aim to maintain stability, manage currency volatility, and ensure a balanced flow of foreign exchange.
In other related news also read Rupee Gains Against US Dollar For 39th Consecutive Day
Overall, the Rupee’s continued strength against the US Dollar is a positive signal for Pakistan’s forex market. However, stakeholders are advised to track currency movements daily, as global and domestic factors continue to influence the Rupee’s value against different currencies.
