BusinessNews

Rupee Upward Ride Continues, Appreciates Rs1.42 against US Dollar

October 10, 2022: Pakistani rupee continued to gain value against the US dollar for the 12th consecutive session, settling with a decrease of Rs.1.42 in the interbank market on Monday. However, the Pakistani rupee is trading at 218.50 which was closed at Rs.219.92 on Friday.

The continuous appreciation of Pakistani currency during the previous week has helped it gain 4% in value. During the last 11 sessions, the rupee gained value by Rs19.79.

According to a forex trader, “The trend for the rupee is to keep going strong. There are sufficient supplies available in the market to match the importer demand.”

Prime Minister Shahbaz Sharif appreciated Finance Minister Ishaq Dar for their hard work to maintain the value of the Pakistani Rupee and said that currently, it is the best-performing currency in the world against the US dollar.

Since Ishaq Dar took control of the finance ministry, the rupee has been on a continuous journey against the dollar. It should be remembered that while talking to the media on Friday, Ishaq Dar claimed that he will bring the dollar below 200 Rupees in the coming days as the government is working on comprehensive strategies to strengthen the value of the Pakistani Rupee.

Muhammad Hammad Rafique

I'm senior journalist at ThePost newspaper and I've massive experience in journalism, I've done my graduation in mass communication and I've a deep connection with news reporting.

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