The US Dollar has been on a free fall against the Pakistani Rupee for 16 consecutive sessions. This means that the value of the US Dollar has been consistently decreasing in comparison to the Pakistani Rupee.
Indeed, the strengthening of the Pakistani Rupee against the US Dollar can be seen as a positive trend for the Pakistani economy. It suggests that the economy is performing well and gaining confidence in the global market. A stronger currency can lead to various benefits, such as lower import costs and increased purchasing power for consumers.
According to the State Bank of Pakistan (SBP), the Pakistani Rupee settled at 288.75 against the US Dollar in the inter-bank market. This marks an increase of Rs1.05 in the value of the rupee.
It is important to note that, Pakistani Rupee has been on an upward trajectory in recent days, recovering over 6% since reaching a record low of 307.1 against the US Dollar on September 5 in the inter-bank market.
