The Pakistani rupee (PKR) continued its upward trajectory against the US Dollar, closing in green for the 108th consecutive day on Thursday. The local currency gained one paisa, settling at 279.50 PKR per USD, reflecting persistent resilience against the US dollar.
Despite the consistent gains versus the USD, the rupee faced challenges against other major international currencies, particularly those from the European Union. Analysts note that fluctuations in global markets and regional economic factors have contributed to PKR losses against the euro and pound, highlighting selective strength in its foreign exchange performance.
The prolonged streak against the US dollar underscores the effectiveness of Pakistan’s monetary and fiscal policies in stabilizing the currency. However, experts caution that external pressures, including rising commodity prices and foreign currency demand, may continue to influence the rupee’s performance against non-USD currencies.
Traders and importers are advised to monitor daily currency movements closely, as volatility against other major currencies could affect import costs and international transactions. Meanwhile, the PKR’s stability against the US dollar offers a degree of predictability for businesses and remittances tied to USD-denominated flows.
Overall, while the rupee enjoys sustained strength versus the US dollar, its mixed performance against European currencies illustrates the complexities of managing foreign exchange dynamics in a globalized economy.
