The Pakistani Rupee (PKR) rose for the seventeenth consecutive session against the US Dollar (USD) in the interbank market on Thursday on its way to claiming the title of the best-performing currency in the world in September.
The local currency gained Rs. 1.01 against the greenback at the close of today’s session. The PKR appreciated by 0.35 percent against the USD and closed at Rs. 287.74 today. This is rupee’s best closing since August 10 i.e. in seven weeks.
The PKR has depreciated by over 21 percent in the current calendar year and has also depreciated just over 0.6 percent in the current financial year. However, the current month saw the PKR gain over 6 percent.
It is pertinent to mention here that the USD hit a 10-month high against a basket of major currencies on Wednesday while most of the other currencies have also lost ground against the greenback during September.
The PKR also appreciated against all other major currencies in the interbank market today. It gained Rs. 2.58 against the Euro (EUR), Rs. 0.85 against the British Pound (GBP), and Rs. 0.87 against the Australian Dollar (AUD).
The PKR also appreciated by Rs. 0.56 against the Canadian Dollar (CAD), Rs. 0.27 against the UAE Dirham (AED), and Rs. 0.26 the Saudi Riyal (SAR).
Son: Hey Dad, I secured first position in the running competition!
Dad: That’s fantastic! Well done son, I am so proud of you! How many runners were there?
Son: I was the only one…
look at the numbers before commenting
That is not true. Government is cracking down on dollar mafia which hoards money to sell them out at exchange outlets. Before commenting consider the reasons why this is happening rather then blame Pakistan Army and Pakistan you unthankful.
Any currency with huge fluctuations in short term is not good at all. Best and worst doesn’t matter.
ye hawa tyre se nikal jye ge because rims are leaking. change the rims for a permanent solution
Rim expensive hai na
Our exports increased? No.
We got the record remittances? No.
Can we count on the claim of best performing currency? Also No.
I think increase of almost 30% devalue of currency in approx 6 months, then it goes up fast for approx 7%. Then when it drops down approx 3% in short term, if you celebrate it you are not an intellgent person…