Rupee Extends Winning Streak With 16th Gain Against Dollar
The Pakistani rupee appreciated 0.01% to settle at 281.77 against the US dollar on Friday, marking its 16th consecutive session of gains in the inter-bank market.
The Pakistani rupee maintained its upward momentum on Friday, closing at 281.77 against the US dollar, a gain of Re0.03 or 0.01% compared to Thursday’s 281.80. The latest movement extended the rupee’s winning streak to 16 sessions, reflecting relative stability in the local currency market.PKR to Dollar on June 23, 2025
Traders said improved sentiment, stronger inflows, and expectations of continued policy support helped sustain the rupee’s positive trend. The streak of gains comes as Pakistan attempts to strengthen its external position while keeping import pressures in check.
Internationally, the US dollar wavered on Friday and was set for a 2% decline in August against major global currencies. Rising expectations of a Federal Reserve interest rate cut next month have weighed on the greenback, while concerns about the independence of the US central bank have added pressure.
Political uncertainty has also contributed to market sentiment. Former US President Donald Trump has intensified efforts to influence monetary policy, including attempts to dismiss Fed Governor Lisa Cook. Cook has filed a lawsuit contesting the move, arguing that Trump lacks the authority to remove her. The legal challenge is the latest in Trump’s repeated clashes with the Federal Reserve, particularly over interest rate decisions under Chair Jerome Powell.
Against this backdrop, the euro traded at $1.1675, on track for a 2% monthly gain. The British pound stood at $1.3509, while the Japanese yen was quoted at 146.97 per dollar. The Australian dollar remained steady at $0.6533, poised for a 1.6% monthly advance.
The US dollar index, which measures the greenback against six major peers, stood at 97.917 and was on course for a 2% drop in August. Year-to-date, the index has fallen nearly 10%, as unpredictable US trade policies have driven investors toward alternative assets.
In commodities, oil prices retreated on Friday but remained on track for modest weekly gains. Brent crude futures for October delivery fell 39 cents, or 0.6%, to $68.23, while November contracts slipped to $67.60. West Texas Intermediate (WTI) crude also declined 0.6% to $64.21. Despite the dip, Brent is set for a 0.6% weekly rise and WTI for a 0.8% increase, supported by expectations of tighter supply and mixed demand forecasts as the US summer driving season winds down.
Analysts said the rupee’s gains come at a crucial time for Pakistan, offering relief amid global currency fluctuations and commodity volatility. However, they cautioned that sustained stability will depend on external financing flows, policy continuity, and the trajectory of global markets.
With the rupee posting its 16th straight advance, market watchers believe investor confidence could strengthen further if international oil and dollar trends remain favorable. For now, the local unit’s resilience is seen as a positive signal for the broader economy.
