The Pakistani rupee continued its upward momentum against the US dollar, closing in the green for the 104th consecutive trading session on Friday. The local currency appreciated by three paisas to settle at 279.56 against the US dollar, reflecting continued stability in Pakistan’s foreign exchange market and improved interbank sentiment.
In addition to gains versus the dollar, the rupee strengthened against most major global currencies during the latest currency trading session. It recorded notable appreciation against the British pound and the euro, gaining Rs. 2.89 against the pound and Rs. 2.10 against the euro, indicating broad-based recovery in the exchange rate.
The rupee also advanced against commodity-linked currencies, rising by 66 paisas versus the Australian dollar and 40 paisas against the Canadian dollar. It posted marginal gains against the Chinese yuan and Malaysian ringgit as well.
However, the local unit closed slightly weaker against the UAE dirham, registering a minor decline, while it strengthened modestly against the Saudi riyal.
The sustained appreciation of the Pakistani rupee against the US dollar and other major currencies reflects improving forex reserves, controlled import payments, and steady interbank demand-supply dynamics. Market analysts suggest that continued macroeconomic stability and inflows could further support exchange rate stability in the coming sessions.
