Pakistani Rupee: The title of the best performing currency globally seems to be going to the name of Pakistani Rupee this month and it can become the top performing currency. Globally illegal dollar trade has worked to reverse the fortunes of this currency.
Pakistani rupee performed best against dollar in September
Pakistani rupee has seen a rise of 6 percent in September and has performed the best against the dollar. The currency of Thailand and South Korea have fallen against the dollar this month. The main reason behind this was that interest rates in America are expected to remain high for a long time. On Thursday, a rise of 0.1 percent was seen in Pakistani currency and it went up to 287.95 per dollar against the dollar. In the same month, Pakistani rupee had fallen to the lowest level of Rs 307 against the dollar. Let us tell you that Pakistani currency market is closed due to public holiday on Friday i.e. 29 September 2023.
Hoarders, exporters are selling dollars
Action intensified against people involved in illegal dollar trade in Pakistan
The government of Pakistan has intensified action against people involved in illegal dollar trade. The federal investigation agency raided offices across the country, while plainclothes security officers were deployed to money exchanges to monitor dollar sales. Prime Minister Anwar-ul-Haq Kakar said this week that "Rupee’s rise is boosting optimism for stability.
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