PKR tumbles against euro and pound after extended stability

The Pakistani rupee closed slightly stronger against the US dollar for the 124th straight session, but the broader currency picture was less encouraging as it weakened sharply against major international currencies. During Tuesday’s trading, the rupee settled at 279.22 versus the dollar after gaining three paisas.

At the same time, it lost ground against the British pound and the euro, dropping by Rs. 4.6 and Rs. 4.3 respectively. It also posted minor mixed movement against regional currencies, gaining marginally against the UAE dirham while slipping against the Saudi riyal.

The divergence suggests that while the rupee remains stable against the dollar, pressure is building through external currency dynamics. For businesses, importers and overseas payment flows, the losses against the pound and euro are likely to be more immediately visible than the modest daily gains against the US dollar.