Interest Rate Differentials: Differences in interest rates set by central banks in Taiwan and Pakistan affect capital flows and currency demand.

Economic Growth: Relative economic performance impacts investor confidence and currency valuation.

Inflation Rates: Higher inflation in one country can weaken its currency relative to another.

Political Stability: Political uncertainty or instability can negatively affect a country's currency.

Trade Balance: A trade surplus can strengthen a currency, while a deficit can weaken it.

Government Debt: High levels of government debt can create concerns about a country's fiscal health and currency value.

Global Risk Sentiment: General investor appetite for risk can influence demand for emerging market currencies like the PKR.

Central Bank Intervention: Actions by the central banks to buy or sell their currencies can impact exchange rates.

Remittances: Significant remittance inflows to Pakistan can bolster the PKR.

Commodity Prices: Pakistan's reliance on commodity imports means prices affect its currency.