Pakistani Rupee tops global charts in September
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The Pakistani Rupee has achieved the distinction of being the best-performing currency in the world compared to the US Dollar, according to data provided by Bloomberg and State Bank.
In September, the Pakistani currency recorded a 5.4 percent growth against the US Dollar, which is the highest among all currencies worldwide.
In this list, the currency of Colombia ranked second, and the currency of Mauritius ranked third. Colombia's currency saw an increase of 0.8 percent against the Dollar in September, while Mauritius' currency experienced a 0.5 percent growth in the past month.
It should be noted that on August 31st, the exchange rate of the Pakistani Rupee against the US Dollar was recorded at 305.54 Rupees, which decreased to 289.80 Rupees on September 26th.
In the open currency market as well, the value of the Dollar decreased by one Rupee, settling at 290 Rupees after a decrease of 1.25 percent or 43 paise in the interbank and open markets.
Due to various factors, including crackdowns against individuals involved in the hawala/hundi trade, imported car dealers, gold traders, and other suspicious sectors, the Dollar remained consistently low.
This caused the interbank rate of the Dollar to drop below 289 Rupees, and the open market rate also reached its lowest point in 78 days at 290 Rupees.
