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Saturday, December 28, 2024

Home Pakistan Pak rupee set to become world’s best currency: Bloomberg

Pak rupee set to become world’s best currency: Bloomberg

by News desk
September 29, 2023
in Pakistan

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Pakistan’s rupee is set to become the top performer globally this month as the interim government continues crackdown on the illegal dollar trade.

According to Bloomberg report, the Pakistan rupee surged almost 6 per cent in September, a remarkable feat as most currencies including the Thai baht and South Korean won tumbled against the dollar on speculation US interest-rates will stay elevated for longer.

The currency rose 0.1% to Rs287.95 per dollar on Thursday, after sliding to a record-low of about Rs307 this month.—NNI