KARACHI — September 16, 2025: The Pakistani rupee extended its winning streak against the US dollar on Tuesday, registering its 28th consecutive appreciation in the inter-bank market. The local currency closed at 281.51 per dollar, a marginal gain of Re0.01 compared to Monday’s close of 281.52.
The Pakistani rupee continued its upward trend against the US dollar on Tuesday, recording its 28th straight gain in the inter-bank market. The local currency
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Rupee’s Steady Performance in Currency Markets
The rupee’s sustained strengthening streak comes amid easing global dollar demand. According to inter-bank rates:
- BID: Rs 281.51
- OFFER: Rs 281.71
Meanwhile, in the open market, the rupee showed mixed results:
- Against the USD, it slipped by 8 paise for buying to 282.03 and remained unchanged for selling at 282.55.
- Against the Euro, the PKR weakened significantly, losing 82 paise for buying and 97 paise for selling, closing at 332.35 and 335.77.
- Against the UAE Dirham, the rupee gained 4 paise for buying and 1 paisa for selling, closing at 77.23 and 78.07.
- Against the Saudi Riyal, the rupee gained 7 paise for buying and 4 paise for selling, settling at 75.31 and 75.97.
Global Dollar Weakness Aids PKR
The global dollar index remained under pressure as investors increased bets on a Federal Reserve interest rate cut this week. Expectations are strong for at least a 25-basis-point reduction, with some analysts even forecasting a more aggressive 50-basis-point cut.
- The US dollar hovered near a 2.5-month low against the euro.
- It traded close to a 10-month low against the Australian dollar.
- Against the British pound, the dollar lingered just below a two-month trough.
The weaker dollar environment has benefited emerging market currencies, including the Pakistani rupee.
Market Drivers: Oil and Fed Policy
Global oil prices added further momentum to currency markets:
- Brent crude rose by 67 cents, or 1%, to $68.11 per barrel.
- US WTI crude gained 82 cents, or 1.3%, to $64.12 per barrel.
The gains followed concerns over supply disruptions in Russia after Ukrainian drone strikes, alongside expectations of US monetary easing.
US President Donald Trump has been pressing the Federal Reserve for deeper cuts, citing the housing market slowdown. Rapidly softening labor data has also driven speculation of more aggressive monetary easing.
Outlook for Rupee
Currency analysts suggest the rupee’s momentum may continue in the short term as long as global dollar weakness persists. However, external factors such as oil price volatility and geopolitical risks could pose challenges.
The rupee’s consistent performance in inter-bank trading reflects improved sentiment, but pressures in the open market highlight ongoing demand for foreign currencies.
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