The Pakistani money went up against the US dollar. This was the 13th day it happened, with just a small 0.02% increase. 29th December is the last working day of the year 2023 and there was a slight increase in this day. The decrease in the value of the Dollar against the Pakistani Rupee happened on the last trading day in 2023.
2023 was the worst year for the Pakistani economy. There was a recorded high inflation rate and devaluation of Pakistani rupee. But it was good news at the end of the term that both negative trends got positive ones.
The Rupee ended at 281.86 against the US dollar in Pakistan. It increased by Rs0.07 compared to the earlier rate in the bank market.
The need of the hour for Pakistan is that this trend should be stable for 2024 and there should be a constant increase in the value of PKR against the US Dollar.
The end of 2023 saw the Pakistani rupee drop 19.7% to 281.86 against the US dollar from its start at 226.43 in the bank markets. This shows a big loss in its value during the year.
On Thursday, the Pakistani rupee went up a bit. It ended at 281.93 compared to the US dollar in a place where banks work together. This showed that it got a little more valuable during that time.