Rupee Strengthens Against US Dollar as Gold Prices Drop Globally
The Pakistani rupee (PKR) continued its upward trend against the US Dollar (USD) on Wednesday, marking the 112th consecutive day in green.
The rupee closed at Rs. 279.42 per USD, gaining three paisas in today’s session. It also posted gains against most major currencies, reflecting stronger regional demand and global market dynamics.
Meanwhile, gold prices fell sharply both locally and internationally. The price per tola dropped by Rs. 10,000 to Rs. 539,962, while international gold fell $100 to $5,172 per ounce, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Traders noted that the recent fall in precious metals confused investors worldwide. The weaker performance of western currencies has been favorable for Asian currencies like PKR and the Indian Rupee, which are now seeking alternative markets for energy imports from the Middle East.
PKR Performance Against Other Currencies
| Currency | Rate | Change |
| USD | 279.4231 | +0.0287 |
| EUR | 324.2985 | +1.0673 |
| GBP | 373.1137 | -0.5904 |
| AUD | 196.2389 | +1.4313 |
| MYR | 70.8477 | +0.0972 |
| CNY | 40.4284 | +0.0871 |
| CAD | 204.4809 | -0.2400 |
| AED | 76.0718 | +0.0088 |
| SAR | 74.4205 | +0.0484 |
The PKR also gained Rs. 1.43 against the Australian Dollar (AUD) and Rs. 1.06 against the Euro (EUR), while losing 59 paisas against the British Pound (GBP) and 24 paisas against the Canadian Dollar (CAD).
