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
๐ต๐ฐ Pakistan: +9.67%
๐ณ๐ฌ Nigeria: +2.30%
๐จ๐ณ China: +1.63%
๐ธ๐ช Sweden: +1.21%
๐ฆ๐ช UAE: 0.0%
๐ธ๐ฆ Saudi Arabia: 0.0%
๐ฎ๐ณ India: -0.12%
๐ธ๐ฌ Singapore: -0.13%
๐ฆ๐ท Argentina: -0.17%
๐จ๐ฆ Canada: -0.23%
๐ฆ๐บ Australia: -0.31%
๐ฐ๐ท South Korea: -0.59%
๐ฏ๐ต…
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.
