The Pakistani Rupee continued its positive momentum against the United States Dollar on Thursday, marking its 155th consecutive gain in the interbank market. However, the local currency came under pressure against several other major international currencies, including the British Pound and Euro.
According to the latest market data, the rupee closed at Rs. 278.71 against the US Dollar, improving by one paisa compared to the previous closing rate of Rs. 278.72.
Despite the slight recovery against the dollar, the Pakistani currency struggled against major European and global currencies during the trading session. The British Pound Sterling strengthened by 60 paisas, pushing the exchange rate to Rs. 379.64.
Similarly, the Euro posted strong gains against the rupee and settled at Rs. 327.91 after increasing by 75 paisas. The rupee also lost Rs. 1.08 against the Swiss Franc, which closed at Rs. 358.30.
In the Gulf market, the rupee remained mostly stable against the United Arab Emirates Dirham and closed at Rs. 75.88 after a marginal improvement. Meanwhile, it weakened slightly against the Saudi Riyal, which settled at Rs. 74.30.
The local currency also faced pressure against commodity-linked currencies. It lost 56 paisas against the Australian Dollar to close at Rs. 202.38. However, the rupee managed to recover against the Canadian Dollar, gaining 52 paisas to settle at Rs. 204.50.
Currency analysts believe the rupee’s stability against the US Dollar reflects controlled import demand, improved foreign exchange inflows, and cautious market sentiment. However, fluctuations in global markets and stronger international currencies continue to affect the rupee’s performance against other major currencies.
Investors and businesses are closely monitoring exchange rate movements as Pakistan continues efforts to stabilize its economy and maintain foreign exchange reserves in the coming months.
