PKR Gains for 99th Consecutive Day Against US Dollar. The Pakistani Rupee (PKR) continued its impressive upward trend against the US Dollar (USD), closing in the green for the 99th consecutive day on Thursday. The local currency has maintained steady momentum in recent weeks, reflecting improved market sentiment and relative stability in the foreign exchange market.
According to the latest currency market data, the rupee appreciated by one paisa against the US Dollar, closing at 279.65 compared to the previous session. Although the gain appears marginal, the continuation of this upward streak is being viewed as a positive sign for Pakistan’s financial stability.
PKR Closes at 279.65 Against USD
During Thursday’s interbank trading session, the rupee settled at 279.6518 per US Dollar, compared to 279.6615 a day earlier. The difference of 0.0097 reflects a slight but consistent improvement in the rupee’s position.
Currency analysts suggest that maintaining gains for 99 consecutive sessions demonstrates controlled exchange rate management and stable dollar supply in the market. While fluctuations remain minimal, the extended positive streak signals relative confidence among investors and traders.
Performance Against Major Global Currencies
In addition to strengthening against the US Dollar, the Pakistani rupee posted mixed results against other major international currencies during the session.
Euro (EUR)
The rupee gained Rs. 1.04 against the Euro, closing at 332.1844 compared to 333.2307 in the previous session. This notable improvement reflects a stronger performance against the European currency, offering some relief to importers dealing with Euro-based trade.
British Pound (GBP)
Against the British Pound, the rupee appreciated by 99 paisas, settling at 381.4311 compared to 382.4232 earlier. The nearly one-rupee gain is considered significant given the Pound’s higher exchange value and its importance in trade and remittances.
Canadian Dollar (CAD)
The local currency also showed strength against the Canadian Dollar, gaining 83 paisas to close at 205.9823, compared to 206.8120 in the previous session.
Mixed Performance Against Regional Currencies
While the rupee gained against some major currencies, it experienced minor declines against a few others.
UAE Dirham (AED)
The rupee closed in green against the UAE Dirham, appreciating slightly to 76.1361, showing a small but positive change of 0.0027. Given the large volume of remittances coming from the UAE, stability against the Dirham remains crucial for Pakistan’s economy.
Saudi Riyal (SAR)
In contrast, the rupee slipped slightly against the Saudi Riyal, closing at 74.5679, reflecting a minor decline of 0.0054. However, the change remains marginal and within a controlled range.
Australian Dollar (AUD)
The rupee lost 38 paisas against the Australian Dollar, closing at 199.1680 compared to 198.7834 previously. This was one of the few currencies where the rupee posted a noticeable decline during the session.
Chinese Yuan (CNY) and Malaysian Ringgit (MYR)
The rupee also posted minor losses against the Chinese Yuan and Malaysian Ringgit, reflecting small adjustments in regional currency movements.
What Is Driving the Rupee’s Stability?
Economic experts attribute the rupee’s sustained performance to several key factors:
- Improved foreign exchange reserves
- Controlled import payments
- Steady inflow of remittances
- Regulatory oversight of currency markets
Additionally, consistent monetary policies and controlled demand for the US Dollar have contributed to stabilizing the local currency.
While the daily appreciation is small, the 99-day upward streak is symbolically significant. It reflects a period of reduced volatility in Pakistan’s currency market compared to previous years when sharp fluctuations were common.
Impact on Economy and Inflation
A stable or strengthening rupee can have multiple economic benefits. It helps reduce the cost of imports, including fuel, machinery, and essential commodities. Lower import costs can contribute to controlling inflation and stabilizing domestic prices.
Moreover, currency stability boosts investor confidence and encourages foreign investment. Businesses operating in international markets also benefit from predictable exchange rates.
However, economists caution that long-term stability depends on sustainable economic fundamentals, including exports growth, fiscal discipline, and foreign reserves management.
Market Outlook
With the rupee closing in green for the 99th straight session, market participants are closely watching whether the currency will extend its historic streak to 100 days. Analysts believe that unless there is sudden pressure from external payments or global market shifts, the rupee may continue trading within a stable range.
Currency trends in the coming days will depend on:
- Global oil prices
- Foreign exchange reserve updates
- Trade balance figures
- Remittance inflows
- Monetary policy signals
Conclusion
The Pakistani Rupee’s gain for the 99th consecutive day against the US Dollar marks a significant milestone in the country’s currency market performance. Closing at 279.65 per dollar, the rupee demonstrated stability and resilience despite mixed performance against other global currencies.
