The Pakistani rupee (PKR) extended its upward streak against the US Dollar (USD) for the 152nd consecutive trading day on Monday, closing slightly stronger in the interbank market.
According to market data, the rupee closed at 278.76 against the US Dollar, registering a marginal gain of one paisa during the session.
However, the local currency showed mixed performance against other major global currencies, posting losses across most benchmarks amid cautious market sentiment.
Currency dealers reported subdued activity and uncertainty at cash counters, influenced by renewed geopolitical developments involving Iran and the United States. Reports suggest Iran has forwarded a detailed peace proposal to the US via Pakistan, while a final response from US President Donald Trump is still awaited.
Performance Against Major Currencies
The rupee remained largely stable against the UAE Dirham (AED) and Saudi Riyal (SAR). However, it weakened against several key currencies:
- British Pound (GBP): down Rs. 1.92
- Euro (EUR): down Rs. 0.82
- Australian Dollar (AUD): down Rs. 1.63
- Canadian Dollar (CAD): down Rs. 0.92
- Malaysian Ringgit (MYR): down Rs. 0.24
- Chinese Yuan (CNY): nearly unchanged with a slight decline of Rs. 0.02
Market Snapshot
The USD/PKR exchange rate showed minimal movement over recent sessions, reflecting relative stability in the dollar market. Analysts, however, note that broader uncertainty in global geopolitics and trade sentiment continues to influence pressure on emerging market currencies like the rupee.
Despite short-term fluctuations against other currencies, the rupee’s continued strength versus the US dollar remains a key highlight for the currency market.
