Pakistani Rupee Extends 86-Day Winning Streak Against US Dollar

The Pakistani rupee showed a modest improvement against the US dollar on Friday, extending its positive run to 86 consecutive sessions in the interbank market. Despite the small gain versus the dollar, the local currency faced pressure against most other major global currencies.

At the close of trading, the rupee settled at 279.86 per dollar, marking an appreciation of one paisa compared to the previous session. Currency market analysts attribute this steady performance to controlled demand for dollars and ongoing regulatory oversight in the foreign exchange market.

However, the rupee did not perform as well against other international currencies. It recorded losses against the euro, British pound, Australian dollar, Malaysian ringgit, Chinese yuan, and Canadian dollar during the same trading session.

Among the notable declines, the rupee weakened by Rs 1.63 against the British pound and lost Rs 1.01 against the Australian dollar. The euro also gained ground, reflecting broader movements in global currency markets.

On a positive note, the rupee managed to close slightly stronger against the UAE dirham and the Saudi riyal. These marginal gains were supported by stable remittance inflows and balanced demand for Gulf currencies.

Market participants remain cautiously optimistic, noting that while the rupee’s long streak against the US dollar is encouraging, external factors and global currency fluctuations continue to influence overall performance.

also read Pakistan Stock Exchange stages strong rebound as KSE-100 jumps over 3,600 points

FAQs

Why is the Pakistani rupee gaining against the US dollar?

The rupee’s stability is mainly due to controlled import payments, steady remittance inflows, and tighter monitoring of the foreign exchange market.

Why did the rupee weaken against other currencies?

Global currency movements, stronger performance of European and Commonwealth currencies, and international market trends contributed to the rupee’s decline against other major currencies.

Is the rupee expected to stay stable in coming days?

Analysts believe short term stability is likely, but external economic developments and global market conditions will remain key factors.

What does an 86 day winning streak mean?

It means the rupee has either gained or remained stable against the US dollar for 86 consecutive trading sessions without a major drop.

also read U.S. Dollar Climbs to One-Month High as Key Economic Events Approach

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