Pakistani rupee’s huge gains against the dollar will be short-lived: Goldman Sachs
A foreign exchange dealer counts US dollars in a shop in Karachi. — AFP/File The local currency made a remarkable comeback last month. The appreciation of the Pakistani rupee will likely be short-lived. Risk remains amid the possibility of unrest ahead of elections. The recent huge appreciation of the Pakistani currency against the US dollar will be wiped out amid funding gaps, Bloomberg Goldman Sachs Group Inc. said Thursday. The local currency made a remarkable comeback from its record low earlier last month, becoming the world’s best-performing currency in September due to a crackdown by authorities against hoarders and currency
