Pakistani rupee has made significant gains against the US dollar, recovering to Rs287.13 in the interbank market.
The development comes as demand for PKR moved up while supplies of foreign currency also rose, and the government tightened noose around hoarders and currency smugglers.
During the early hours of trading on Monday, PKR inches up by Rs61 paisas.
Besides local currency, the benchmark KSE-100 Index witnessed the addition of 402 points as sentiments improved.
Amid the crackdown on smuggling and illegal exchanges, the Pakistani rupee emerged as the best-performing currency in the world in September. PKR appreciated from Rs305.54 against the US dollar to Rs287 against the greenback, with an increase of Rs17.8.
More to follow…
