The Pakistani rupee maintained its winning run on Monday, rising for the 32nd consecutive session versus the US dollar in the interbank market. It finished marginally higher at Rs. 281.45, up one paisa from the previous day.
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According to the State Bank of Pakistan, the rupee gained nine paisas last week, closing at Rs. 281.46. In the open market, the dollar was trading at Rs. 282.35 for purchasing and Rs. 282.50 for selling.
Other currencies exhibited mixed action, with the euro down 20 paisa to Rs. 330.71 and the British pound falling 13 paisa to Rs. 379.43. The Japanese yen maintained a firm value at Rs. 1.90, as did the Saudi riyal and UAE dirham at Rs. 75.04 and Rs. 76.62, respectively.
Analysts believe the rupee’s ongoing rise reflects improving market mood, stable foreign exchange reserves, and stricter regulatory actions by the State Bank.
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They also stated that currency stability is increasing trust among traders and importers, lessening concerns about additional devaluation in the foreseeable future.
