Pakistan’s rupee beat out all other major currencies in August, rising 11% versus the US dollar.
According to figures released by the State Bank of Pakistan (SBP) on Monday, the value of the Pakistani rupee appreciated by 0.71 percent (or Rs1.51) versus the United States dollar, reaching a one-month high of Rs213.98 in the interbank market.
Since its all-time low closing of Rs239.94 on July 28, 2022, it has recovered over 11% (or Rs26) in the previous 10 consecutive working days.
Topline Securities CEO Muhammed Sohail tweeted, “After months of economic and political concerns, it is great to see Pakistani rupee and the stock market being top performers so far in August, topping all other nations based on Bloomberg statistics.”
