Today, the Pakistani rupee posted another win against the dollar. on October the 3rd, the Pakistani rupee closed at 227.29Rs with an appreciation of 0.51% against the dollar. Pakistani rupee made a jump from 228.45Rs to 227.29Rs.
This appreciation streak is being attributed to Ishaq Dar's return to the finance ministry. Ishaq's an Ex-Finance minister & a chartered accountant by profession.
His return was anticipated as the start of the betterment of the Pakistani economy & enough sure enough as soon as he replaced his predecessor, Miftah Ismail. The Pakistani rupee has started an appreciation streak against the American dollar.
Ishaq dar took the oath as the finance minister on Monday, the 28th of September and since then the Rupee has increased in value by 2.83% or from 233.91Rs to 227.29Rs. This appreciation is single-handedly attributed to Ishaq's return.
On 1st October, Ishaq Dar remarked that "Appreciation of the US dollar against Pak rupee is the mother of all evils." he also said that the rupee's depreciation against the dollar is artificial & has been manipulated. Ishaq Dar also claimed that the Rupee will further strengthen against the dollar in the coming days.
last week, The Rupee appreciated by 4.81% against the dollar and closed at Rs228.45.