The Pakistani Rupee continued its upward momentum, closing the week on a positive note against the US Dollar despite recent market forecasts predicting sustained pressure. The local currency has now recorded gains for the 147th consecutive session, signaling a period of unusual stability in the exchange market.
On Friday, the rupee appreciated marginally, closing at 278.85 in the interbank market after gaining one paisa against the dollar. While the increase may appear modest, it reflects a consistent trend that has extended over nearly five months, reinforcing confidence among short-term traders and policymakers.
This performance comes in contrast to a recent survey conducted by Topline Securities, which suggested that the rupee may face downward pressure in the coming months. According to the survey findings, a majority of market participants expect the dollar to remain above the 285 mark, indicating cautious sentiment about the sustainability of the current trend.
The survey revealed that around 59 percent of respondents anticipate the exchange rate to stay above Rs. 285, while 31 percent believe it will hover between 280 and 285. Only a small segment, approximately 10 percent, expects the rupee to strengthen further into the 275–280 range.
Despite these projections, the rupee’s consistent appreciation highlights a disconnect between market expectations and real-time performance. Analysts suggest that factors such as controlled imports, improved remittance inflows, and regulatory measures may be contributing to the currency’s resilience.
In addition to gains against the dollar, the rupee also showed strength against other major currencies during the session. It edged up slightly against the UAE Dirham and remained stable versus the Saudi Riyal, further underscoring its broad-based stability.
The sustained upward trend in the rupee is being closely monitored by investors, businesses, and policymakers alike. While the outlook remains uncertain due to external economic pressures, the current trajectory suggests that the local currency is holding firm against prevailing market skepticism.
As financial markets continue to evolve, the rupee’s performance will remain a key indicator of Pakistan’s economic direction in the near term.
