The Pakistani Rupee has achieved the distinction of being thebest-performing currency in the world compared to the US Dollar, accordingto data provided by Bloomberg and State Bank.
In September, the Pakistani currency recorded a 5.4 percent growth againstthe US Dollar, which is the highest among all currencies worldwide.
In this list, the currency of Colombia ranked second, and the currency ofMauritius ranked third. Colombia’s currency saw an increase of 0.8 percentagainst the Dollar in September, while Mauritius’ currency experienced a0.5 percent growth in the past month.
It should be noted that on August 31st, the exchange rate of the PakistaniRupee against the US Dollar was recorded at 305.54 Rupees, which decreasedto 289.80 Rupees on September 26th.
In the open currency market as well, the value of the Dollar decreased byone Rupee, settling at 290 Rupees after a decrease of 1.25 percent or 43paise in the interbank and open markets.
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Due to various factors, including crackdowns against individuals involvedin the hawala/hundi trade, imported car dealers, gold traders, and othersuspicious sectors, the Dollar remained consistently low.
This caused the interbank rate of the Dollar to drop below 289 Rupees, andthe open market rate also reached its lowest point in 78 days at 290 Rupees.
