The Pakistani rupee (PKR) extended its remarkable winning streak against the US Dollar, closing at 279.81 in the interbank market. This marks the 89th consecutive day of gains for the local currency against the greenback, a rare period of sustained stability. However, this domestic resilience was not mirrored globally; the rupee struggled significantly against other major international currencies. The Euro surged to 335.60, while the British Pound reached 386.10, reflecting broader global shifts as international investors move away from the dollar amid U.S. political uncertainty.
The Pakistani rupee (PKR) closed in green against the US Dollar (USD) for the 89th consecutive day on Wednesday.
Meanwhile, it posted losses against most of the other major currencies during today’s session.
Read More: https://t.co/Hv1YBjTsYe pic.twitter.com/yN3sxNzvn1— ProPakistani (@ProPakistaniPK) January 28, 2026
The most dramatic movement occurred in the bullion market. Driven by geopolitical tensions and a weakening global dollar, domestic gold prices shattered all previous records for the second day in a row. The price for 24-karat gold skyrocketed by Rs21,200, reaching a staggering Rs572,862 per tola. Similarly, the 10-gram rate climbed to Rs491,136. This unprecedented spike follows a global trend where gold hit $5,504 per ounce, as investors flock to “safe-haven” assets amid the looming threat of conflict in the Middle East.
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While the rupee holds its ground against the dollar for now, the soaring costs of gold and other major currencies suggest that inflationary pressures remain a significant threat to the local economy as we head into February.
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