Rupee Extends Winning Streak Against US Dollar After Budget Update
The Pakistani rupee (PKR) continued its upward trend against the US dollar on Monday, closing higher for the 179th consecutive trading day.
According to market data, the rupee ended the day at 278.31 per US dollar, gaining a marginal one paisa during the session.
Stable Performance in Currency Market
Analysts note that the rupee has shown a steady and gradual recovery trend in recent months, supported by improving market sentiment following the latest federal budget announcement.
The latest movement also comes amid a decline in global oil prices, which recently slipped to lower levels after developments in international negotiations involving major oil-producing regions.
Performance Against Other Currencies
While the rupee strengthened slightly against the US dollar, its performance against other major currencies showed mixed movement:
- Slight decline against the UAE Dirham (AED)
- Stability against the Saudi Riyal (SAR)
- Losses against the British Pound (GBP) and Euro (EUR)
- Moderate fluctuations against the Australian and Canadian dollars
Market Outlook
Currency analysts expect continued volatility in the foreign exchange market, with movements likely influenced by global oil prices, trade flows, and domestic economic conditions.
