After receiving some unexpected shockwaves due to speculative attacks in the recent past, Pakistan rupee has recovered some of the recent losses and appears to be stable at around 104 to a US dollar in the interbank market. The speculators who have been betting against rupee are missing some bright spots of country’s economic horizon like increasing forex reserves, falling energy cost, increasing home remittances, positive growth outlook and improving balance of payment. On the political front, there is obviously stability at last. These foregoing factors are contributing to rupee’s stability. I believe Pakistan’s economy is improving which will keep currency stable and strong in the years to come. A strong currency is in the interest of the country.
EJAZ AHMAD MAGOON
Lahore
