KARACHI – The Pakistani rupee continued its upward momentum in the interbank market on Monday. Rupee posts gains against dollar for 27th day despite shortage fears, showing resilience in currency trading.
The local currency gained slightly against the U.S. dollar, extending a rare streak of consecutive appreciation. Market experts attribute the trend to improved dollar inflows, stricter controls on illegal exchanges, and efforts by the State Bank of Pakistan.
Traders noted that demand for the U.S. dollar remains high, especially from importers. However, supply management measures have helped stabilize the market.
According to analysts, rupee posts gains against dollar for 27th day despite shortage fears, mainly because of rising remittances and foreign exchange reserves support. These inflows have helped ease pressure on the rupee.
Despite the gains, concerns persist over potential shortages. Import bills, debt repayments, and global oil prices could put pressure on foreign reserves in the coming weeks. Experts warn that the currency may face challenges if external conditions worsen.
The government has taken steps to improve transparency in exchange markets. Crackdowns on illegal hundi and hawala networks have reduced speculative pressure on the rupee.
Economists believe the consistent performance signals confidence in financial policies. Yet, they caution that structural reforms are needed to sustain stability. Reducing reliance on foreign loans and boosting exports remain key priorities.
In summary, rupee posts gains against dollar for 27th day despite shortage fears, reflecting strong short-term performance. But long-term stability will depend on managing imports, debt, and global market risks effectively.
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