The Pakistani Rupee (PKR) extended its remarkable rally on Tuesday, appreciating for the 29th consecutive session against the US Dollar (USD) and closing at Rs280.87 in the interbank market, marking a 0.01% day-on-day gain.
This persistent strengthening trend reflects a combination of steady remittance inflows, tight foreign exchange management, and improving investor confidence in the country’s fiscal outlook.
On a fiscal year-to-date (FYTD) basis, the rupee has appreciated by 1.09% against the dollar, with analysts noting that Pakistan’s foreign exchange reserves and reduced trade deficit have helped sustain market stability.
A market observer commented, “Stable reserves and a narrowing trade deficit have supported PKR’s steady performance,” adding that the government’s recent economic reforms and remittance incentives have also boosted the currency’s resilience.
During Tuesday’s trading session, the rupee gained ground against several major global currencies as well:
| Currency | Change | Result |
|---|---|---|
| US Dollar (USD) | +0.01% | 280.87 |
| UAE Dirham (AED) | Stable | — |
| Saudi Riyal (SAR) | Stable | — |
| Canadian Dollar (CAD) | +0.54 | Gained |
| Australian Dollar (AUD) | +1.07 | Gained |
| Euro (EUR) | +0.16 | Gained |
| British Pound (GBP) | +0.53 | Gained |
Economists believe that the rupee’s consistent recovery could help reduce inflationary pressures in the coming months, though they caution that sustaining the momentum will depend on external financing stability and fiscal discipline.
