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Pakistani Rupee Surges, Making It September’s Best-Performing Currency

The Pakistani Rupee has seen a remarkable gain of 6.1% against the US dollar in September, following official efforts to crack down on illegal foreign exchange trade in grey and black markets by security agencies.

Since September 5th, the USD has declined by Rs26.49.

The US dollar’s downward trend against the Pakistani Rupee (PKR) continued, with the latest USD to PKR rate at Rs280.60, marking a significant decrease of Rs1.05 compared to the previous day’s closing rate of Rs281.65.

These gains in September have nearly offset all the losses the rupee experienced in August, effectively making it the best-performing currency in the world for this month. The rupee had hit a record low of 307.1 against the dollar on September 5th but has since made a strong recovery due to the actions taken by the country’s financial regulator and security agencies to curb black market operations.

Conversely, the closing rate for the US dollar was Rs281.50 after an increase of Rs1.14.

Shakila Nasreen

Exploring the technology and fetching unique info for all of you is not my hobby but passion. This passion drove me to news reporting field. It's my hobby to timely report latest news all over the Pakistan. Email: shakila@www.thepost.com.pk

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