Pakistan's Economy: Will the rupee continue to appreciate against the dollar?

The Pakistani rupee has been appreciating against the US dollar for the past several weeks. The Pakistani currency has appreciated by nine and a half rupees against the dollar since the end of August this year.

In the last days of August, the price of one dollar was 168 rupees 43 paise which has now improved to 158 rupees 91 paise. The dollar was trading at around Rs 154 in February this year, but since then the rupee has depreciated sharply and the dollar has crossed the Rs 168 level against the local currency.

Pakistan's Economy: Will the rupee continue to appreciate against the dollar?

The depreciation of the Pakistani rupee against the dollar on the one hand made the country's imports more expensive and on the other hand it also led to an increase in the inflation rate in the country. Currency traders and economists attribute the appreciation of the rupee to a few steps taken by the government and some positive economic indicators.

 How much did the rupee appreciate?

Analyzing the appreciation of the Pakistani currency, economist Khurram Shehzad said that if one looks at the value of the dollar and the rupee since October 1, the rupee has appreciated by 3.1 percent.

He said that due to the appreciation of the rupee since October, the Pakistani rupee has become the third most valuable currency in Asia against the dollar.

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