Pakistani Rupee Extends Winning Streak Against US Dollar
The Pakistani rupee continued its upward momentum on Tuesday, recording gains against the US dollar in the inter-bank market for the 13th consecutive session.
According to data released by the State Bank of Pakistan (SBP), the local currency closed at 281.86, marking a slight improvement of Re 0.01 from Monday’s closing rate of 281.87.
Improved Market Sentiment
Although the gain was modest, analysts highlighted that the rupee’s steady performance reflects positive market sentiment. The ongoing crackdown on illegal currency dealers and smuggling networks has helped strengthen confidence in the financial system.
Stability in the Currency Market
The rupee has shown remarkable stability in recent weeks, supported by law enforcement actions that have successfully curbed speculative trading. This has also helped reduce the gap between open-market and inter-bank exchange rates.
Stronger Economic Outlook
Market experts believe that the combination of stable reserves, strict regulatory oversight, and policy measures is boosting the confidence of traders and importers. With upcoming external debt repayments, the rupee’s resilience is seen as a positive sign for the economy.
