Rupee Extends Winning Streak to 31 Days Against US Dollar After Trump’s Remarks

The Pakistani Rupee (PKR) continued its upward trend for the 31st consecutive day, closing in green against the US Dollar (USD) on Thursday amid renewed investor sentiment following US President Donald Trump’s latest remarks praising Pakistan.

The local currency appreciated by 0.004% day-on-day, gaining one paisa to close at Rs. 280.85 per USD, according to data from the interbank market. On a fiscal year-to-date (FYTD) basis, the PKR has strengthened by 1.09% against the greenback.

Market traders attributed the rupee’s sustained strength to improved market confidence and Trump’s unexpected mention of Pakistan’s military capability during a recent speech.

“The President’s statement once again highlighted Pakistan’s regional influence, which traders interpreted positively,” said a Karachi-based forex dealer.

In his speech, President Trump claimed that Pakistan had “shot down eight Indian jets” during the May 2025 military conflict, an increase from his earlier statement of seven aircraft. This renewed mention boosted sentiment around the rupee, though analysts called it a temporary psychological lift rather than a structural change.

Despite the gain against the dollar, the rupee lost ground against several other major currencies during the day. It weakened by 53 paisas against the Euro, 73 paisas against the British Pound, and 47 paisas against the Australian Dollar, while remaining stable against the UAE Dirham and Saudi Riyal.

Economists note that while the rupee’s rally reflects market resilience and improved foreign inflows, external pressure from global currencies could test its stability in the coming weeks.