The Pakistani Rupee (PKR) has posted massive gains against the US Dollar (USD) at the start of the trading week after suffering major losses for most of the month due to increasing import bill and economic loss caused by the massive flooding across the country.
According to the State Bank of Pakistan (SBP), the Pakistani Rupee (PKR) closed at Rs. 237.02 in the interbank market on 26 September 2022 (Monday), which was a gain of Rs. 2.63 compared to Friday (23 September 20222) when the local currency closed at Rs. 239.65 against the greenback.
The development comes as Miftah Ismail announces his resignation as Finance Minister with Ishaq Dar to take his place upon his return with Prime Minister Shehbaz Sharif after five years of self-imposed exile in London and help the government to resurrect the country’s cash-strapped economy.
It is pertinent to mention that Pakistani Rupee (PKR) had initially broken its 15-day loosing streak against the US Dollar (USD) on Friday as it gained a meagre Rs. 0.06 at the closing of the interbank market. However, the local currency has been one of the world’s worst performing currencies.
Read more: Dollar Rate in Pakistan (Daily Updates).