Rupee Extends Winning Streak with 16th Straight Gain Against Dollar

The Pakistani rupee posted its 16th consecutive rise against the US dollar, closing at 281.77 in the interbank market on Friday — a marginal gain of Re0.03. The local unit had settled at 281.80 a day earlier.

Internationally, the US dollar weakened, heading for a 2% monthly decline against major currencies, as markets anticipate a possible Federal Reserve rate cut next month. Political uncertainty in the US, fueled by Donald Trump’s ongoing campaign to influence the Fed and legal battles with Governor Lisa Cook, also weighed on sentiment.

The euro hovered at $1.1675, sterling traded near $1.3509, and the yen stood at 146.97 per dollar. Meanwhile, the dollar index slipped to 97.917, marking a near 10% fall this year amid erratic US trade policies.

In commodities, oil prices edged lower on Friday but remained on track for modest weekly gains. Brent crude for October delivery dropped 0.6% to $68.23, while WTI slipped to $64.21. Despite the dip, Brent is set to gain 0.6% this week and WTI by 0.8%.

Analysts suggest the rupee’s consistent gains are supported by improved foreign inflows and stability in key economic indicators, though volatility may re-emerge if global oil and dollar trends shift.