The Pakistani rupee (PKR) extended its winning streak against the US dollar on Friday, notching up its 26th consecutive gain in the interbank market.
According to the State Bank of Pakistan (SBP), the local currency closed at Rs. 281.55, slightly stronger than Thursday’s Rs. 281.56. While the gain was marginal — just one paisa — it still marked another milestone in the rupee’s longest positive run in months.
Dollar and Other Currencies
In the open market, the US dollar was quoted at Rs. 282.5 for buying and Rs. 282.8 for selling, according to the Forex Association of Pakistan.
Other major currencies saw mixed trends:
-
Euro gained Rs. 1.20, closing at Rs. 330.40.
-
British Pound rose by Rs. 1, settling at Rs. 381.56.
-
Japanese Yen remained unchanged at Rs. 1.90.
-
UAE Dirham edged up to Rs. 76.66.
-
Saudi Riyal stayed stable at Rs. 75.04.
Why It Matters
The rupee’s resilience is being closely watched by businesses, investors, and the general public alike. A stronger rupee not only improves market confidence but also helps reduce pressure on inflation by lowering the cost of imports.
However, analysts caution that sustaining this trend will depend on foreign inflows, IMF reviews, and economic stability in the coming weeks.
Bottom Line
The rupee’s 26-day winning streak highlights growing market optimism, but whether it can maintain this momentum remains a big question.
