Business
Pakistani rupee surges against the US dollar
The Pakistani rupee was honored as the best-performing currency in September.
Karachi: The Pakistani rupee has registered a remarkable surge against the US dollar, strengthening its position as the best-performing currency in September.
The dollar's depreciation continues, as a result of concrete measures taken against currency hoarders, signaling a positive trajectory for Pakistan's economy.
As the new business week commenced, the dollar's value in the interbank exchange further depreciated by Rs1.23, settling at Rs286.50.
This decline in the dollar's value is a continuation of the trend that began following the crackdown on currency hoarders and illicit transactions.
The sustained appreciation of the Pakistani rupee throughout September can be attributed to these ongoing efforts to stabilize the currency market.
Additionally, during the last week of the previous month, gold prices also exhibited a noteworthy decrease, aligning with the overall economic improvements in Pakistan.