The Pakistani rupee continued its upward momentum against the US dollar on Tuesday, closing in the green for the 139th consecutive trading session. The currency settled at 278.97 per dollar, marking a marginal gain of three paisas in the interbank market.

Market data shows this is the first time in almost two years that the rupee has revisited the 278 level, last seen during the March–June 2024 period when the currency traded in a relatively stable band supported by improved external inflows and IMF-linked adjustments. After that phase, the rupee remained mostly above this range through 2025 amid persistent import pressure and external financing constraints.

Despite its continued strength against the dollar, the rupee posted mixed performance against other major currencies during the day. It weakened against the euro, British pound, Australian dollar, and Canadian dollar, while remaining broadly stable against Gulf currencies.

Against the euro, the rupee lost Rs. 2.29, closing at 328.52. It fell Rs. 2.83 against the British pound to 377.44, while slipping Rs. 1.15 against the Australian dollar and Rs. 1.05 against the Canadian dollar. The rupee also posted minor losses against the Chinese yuan and Malaysian ringgit.

In contrast, the local currency remained largely unchanged against the UAE dirham and Saudi riyal, reflecting the currency peg dynamics tied to Gulf economies.

Overall, the rupee’s sustained streak against the dollar highlights short-term stability in the interbank market, even as cross-currency volatility persists.