The Pakistani Rupee (PKR) has emerged as the world's top-performing currency against the US Dollar over the past month, with a remarkable appreciation of 9.67%.
The recent data highlights a stark contrast between Pakistan and other major economies, where the value of their respective currencies declined against the US Dollar. While countries like Mexico, Brazil, and Russia saw significant depreciation of 3.78%, 3.24%, and 3.03%, respectively, Pakistan's currency emerged as a beacon of stability.
Currency against US Dollar, past month:
— World of Statistics (@stats_feed) October 8, 2023
🇵🇰 Pakistan: +9.67%
🇳🇬 Nigeria: +2.30%
🇨🇳 China: +1.63%
🇸🇪 Sweden: +1.21%
🇦🇪 UAE: 0.0%
🇸🇦 Saudi Arabia: 0.0%
🇮🇳 India: -0.12%
🇸🇬 Singapore: -0.13%
🇦🇷 Argentina: -0.17%
🇨🇦 Canada: -0.23%
🇦🇺 Australia: -0.31%
🇰🇷 South Korea: -0.59%
🇯🇵…
It is also reported that an increasing number of nations are avoiding the US Dollar in favor of conducting international trade using their own respective currencies.
Experts emphasize the need for continued economic reforms and wise fiscal policies to sustain this momentum.
This development might attract international community, and Pakistan is increasingly being seen as an attractive destination for investments.
