The Pakistani rupee (PKR) continued its impressive performance in the interbank market, closing in the green against the US Dollar (USD) for the 60th consecutive session. This rare and sustained upward movement reflects improving market sentiment and tighter control over currency flows.
On Monday’s trading session, the rupee closed at PKR 280.31, registering a modest gain of one paisa against the dollar. While the movement may appear small on a daily basis, maintaining positive momentum for 60 straight days is a significant milestone for Pakistan’s currency market.
Mixed Performance Against Other Major Currencies
Despite its strength against the dollar, the rupee showed mixed results against other global currencies. In the interbank market, PKR weakened against several majors, including the Euro (EUR) and British Pound (GBP), as global currency pressures remained uneven.
The rupee also closed lower against the UAE Dirham (AED) and Saudi Riyal (SAR) — two currencies closely watched due to Pakistan’s trade and remittance links with the Gulf region.
Significant Loss Against Canadian Dollar
Among the notable movements, the rupee recorded a sharp decline against the Canadian Dollar (CAD), losing 223 paisas during the session. Analysts attribute this to fluctuations in commodity-linked currencies and international market adjustments rather than domestic instability.
What This Trend Means for Pakistan
Currency experts suggest that the rupee’s prolonged stability against the dollar could help control imported inflation, improve investor confidence, and provide short-term relief to businesses dependent on foreign payments. However, they also caution that sustained gains depend on consistent economic discipline, export growth, and foreign inflows.
As global markets remain volatile, the rupee’s ability to hold ground for 60 sessions has positioned it as one of the most closely watched currencies in the region.
