The Pakistani rupee continued its steady upward momentum against major global currencies on Friday, extending its strong performance against the US dollar for the 183rd consecutive session.
The rupee closed at 278.2538 against the US dollar, marking a marginal gain and continuing its longest recovery streak against the greenback.
Against other major currencies, the rupee showed mixed but mostly positive movement, with notable gains recorded against the British pound and the euro.
The British pound dropped sharply to Rs. 367.4202, while the euro declined to Rs. 318.7397 in the local market, reflecting continued weakness against the rupee over the week.
Meanwhile, the rupee remained largely stable against Gulf currencies, including the UAE dirham and Saudi riyal, showing minimal movement in Friday’s session.
In other currency movements, the rupee appreciated by around Rs. 2.51 against the British pound over the reported period and gained Rs. 1.19 against the euro.
It also strengthened by 23 paisas against the Australian dollar and 45 paisas against the Canadian dollar, while showing minor fluctuations against other Asian currencies such as the Chinese yuan and Malaysian ringgit.
Market observers note that if the current trend continues, the rupee could potentially move closer to the 277-per-dollar level by the end of June, supported by sustained stability in the foreign exchange market.
