The Pakistani rupee (PKR) continued its historic run against the US Dollar (USD) on Wednesday, marking its 107th consecutive day of gains.
Despite the streak, the pace of appreciation remains painfully slow for market participants. “The rupee is moving, but too gradually for traders to capitalize on,” a frustrated day trader told ProPakistani.
The PKR gained just one paisa to close at Rs. 279.51 against the USD. However, the currency lost ground against most other major currencies in Wednesday’s session.
Against regional currencies, the rupee edged up slightly versus the UAE Dirham (AED) and Saudi Riyal (SAR). On the other hand, it weakened by Rs. 1.49 against the British Pound (GBP), 61 paisas against the Euro (EUR), Rs. 1.19 against the Australian Dollar (AUD), and 35 paisas versus the Canadian Dollar (CAD).
| Column 1 | Column 2 | Change |
|---|---|---|
| 279.5232 | 279.5129 | 0.0103 |
| 329.1945 | 329.8112 | -0.6167 |
| 376.5876 | 378.0831 | -1.4955 |
| 197.4831 | 198.6777 | -1.1946 |
| 71.7002 | 71.9005 | -0.2003 |
| 40.5750 | 40.7044 | -0.1294 |
| 203.9645 | 204.3148 | -0.3503 |
| 76.1001 | 76.0993 | 0.0008 |
| 74.5067 | 74.5050 | 0.0017 |
The rupee’s gradual gains highlight the continuing pressure in the foreign exchange market, with volatility against major currencies keeping traders cautious.
