The Pakistani rupee (PKR) continued its historic winning streak against the US Dollar (USD) on Wednesday, marking the 107th consecutive day of gains. The PKR closed at 279.51, posting a marginal gain of one paisa against the greenback, extending its record-breaking run.
Despite daily gains against the USD, the rupee’s slow appreciation has left some traders frustrated, with one day trader describing the pace as “too slow for the market to react comfortably.”
However, the PKR posted losses against most other major global currencies during the session. It lost Rs. 1.49 against the British Pound (GBP) and 61 paisas against the Euro (EUR), while gaining slightly against the UAE Dirham (AED) and the Saudi Riyal (SAR).
Currency Movements
| Currency | 23-Feb | 24-Feb | 25-Feb | Change (+/-) |
|---|---|---|---|---|
| USD | 279.5515 | 279.5232 | 279.5129 | 0.0103 |
| EUR | 330.4439 | 329.1945 | 329.8112 | -0.6167 |
| GBP | 377.9257 | 376.5876 | 378.0831 | -1.4955 |
| AUD | 197.8945 | 197.4831 | 198.6777 | -1.1946 |
| MYR | 71.9381 | 71.7002 | 71.9005 | -0.2003 |
| CNY | 40.4640 | 40.5750 | 40.7044 | -0.1294 |
| CAD | 204.5374 | 203.9645 | 204.3148 | -0.3503 |
| AED | 76.1088 | 76.1001 | 76.0993 | 0.0008 |
| SAR | 74.5222 | 74.5067 | 74.5050 | 0.0017 |
The rupee lost Rs. 1.19 against the Australian Dollar (AUD) and 35 paisas against the Canadian Dollar (CAD) in today’s session.
Analysts note that while PKR’s long streak against the USD is unprecedented, its simultaneous weakness against other currencies reflects broader market volatility and external pressure on Pakistan’s foreign exchange reserves.
The State Bank of Pakistan continues to monitor the forex market closely, aiming to maintain stability while encouraging steady gains against the US Dollar.
