British Pound Sterling has reached PKR 136.20 all-time high in the last 6 months since October
After the Brexit, when UK voted against sticking with European Union last year, the pound sterling witnessed huge blow to exchange rates, since that decision British pound was in turmoil, before Brexit decision, Pound was at PKR 156.11, when news started disseminating around that UK is going to held referendum for whether to stay with European Union of not, then GBP faced a little tumble, soon after the decision was upheld that UK is going to leave European Union GBP plunged to the lowest level in 5 years history.
Pound sterling has been performing really bad since last year till January, GBP started recovering fast from last January 2017, From January to May 23 UK gained almost 10 Rupees from PKR 126.30 to PKR 136.20.
Experts from financial industry say that GBP will continue to grow in the year 2017. Some experts attach this rise with Theresa May general elections call. Since, she announced general elections in the UK in June, the GBP is rising continuously.
According to the Business Insider, Mark Carney told Reuters that Sterling will recover by 2017 and it will continue to grow thereafter. Minor fluctuation would not last for long, UK bonds and assets became attractive to investors which would also help economy to get even better.