Rupee Holds Dollar at 276.95 but Slides Against Pound, Euro and Riyal
KARACHI: The Pakistani rupee extended its winning streak against the US dollar to a 261st consecutive day on Wednesday, closing at Rs276.95 after gaining one paisa and keeping the rupee dollar rate steady. But the headline masks a weaker picture: the local currency lost ground against almost every other major currency.
The rupee has now posted gains against the dollar every single trading session since December 25, 2025, an extraordinary run of stability in the interbank market.
Rupee dollar rate: where the rupee lost ground
Against the British pound, the rupee fell 71 paisas to close at Rs367.41. It dropped Rs1.09 against the Australian dollar and 61 paisas against the Canadian dollar. The euro cost 10 paisas more, and even the UAE dirham edged up by one paisa. The Saudi riyal held broadly stable.
The four-day trend shows the pressure building:
| Currency | Oct 9 | Oct 12 | Oct 13 | Oct 14 |
|---|---|---|---|---|
| USD | 277.00 | 276.97 | 276.96 | 276.95 |
| GBP | 366.85 | 366.64 | 366.70 | 367.41 |
| EUR | 310.95 | 310.02 | 309.95 | 310.05 |
| AED | 75.42 | 75.41 | 75.41 | 75.41 |
The dollar’s slow slide, down about five paisas over four sessions, contrasts with the pound’s jump of more than 55 paisas in the same window.
What it means for Pakistanis
For most households, the dollar rate grabs the headlines, but the pound, euro and Gulf currencies hit harder in daily life. Remittances from the UK, Europe and the Gulf buy fewer rupees when the local currency weakens against those currencies, squeezing families that depend on money sent home. Importers paying in pounds or euros also face higher costs, which can feed into retail prices.
The 261-day streak against the dollar, meanwhile, reflects the State Bank’s managed stability rather than market strength alone. It is the longest such run in recent memory, and it has kept imported inflation in check even as global currency markets stay volatile. Whether the streak survives the dollar’s global swings in the coming sessions is the question traders are asking now.
The rupee’s mixed performance comes as Pakistan’s economic managers push a wider reform agenda. Finance Minister Muhammad Aurangzeb has been pressing for targeted, budget-neutral subsidies, while the government courts investment in sectors from gemstones to the stock market. Currency watchers will now look to whether the rupee can hold its dollar streak into a 262nd day, and whether the slide against other currencies deepens.
Frequently asked questions
What is the dollar rate in Pakistan today?
The interbank closing rate on October 14, 2026 was Rs276.95 per US dollar, up one paisa on the day.
How long has the rupee been gaining against the dollar?
The rupee has closed stronger against the dollar for 261 consecutive trading days, a streak running since December 25, 2025.
Why did the rupee fall against the pound and euro?
The rupee lost 71 paisas against the pound and 10 paisas against the euro as those currencies strengthened globally, even as the dollar softened against the rupee locally.
Does this affect remittances?
Yes. A weaker rupee against the pound, euro and Gulf currencies means overseas Pakistanis’ earnings convert into fewer rupees, reducing the spending power of recipient families.
