The Pakistani rupee (PKR) extended its upward streak against the US dollar on Monday, closing in the green for the 184th consecutive trading session.
According to market data, the rupee settled at 278.2210 per US dollar, registering a marginal gain of 0.0328 paisas during the day. This marks one of the longest continuous appreciation streaks recorded in recent months.
The steady improvement in the local currency has also kept the British pound (GBP) and euro (EUR) on a downward trend, continuing the pattern seen over the past week.
Other major currencies decline
The rupee also posted gains across several major foreign currencies:
- Euro (EUR): down by 0.3018
- British Pound (GBP): down by 0.3771
- Australian Dollar (AUD): down by 0.5377 (53 paisas)
- Canadian Dollar (CAD): down by 0.4949 (49 paisas)
- Malaysian Ringgit (MYR): down by 0.1534
- Chinese Yuan (CNY): down by 0.0557
Against Gulf currencies, the rupee remained largely stable:
- UAE Dirham (AED): marginal change of 0.0047
- Saudi Riyal (SAR): slight decline of 0.0186
The rupee’s consistent performance against the US dollar has been described as a rare sustained recovery phase, with expectations that it could move toward the 277 per dollar level by the end of June, if current momentum continues.
Market watchers note that every additional day of gains is adding to a historic recovery streak for the local currency.
