The Pakistani rupee has emerged as Asia’s best-performing currency, outperforming its regional competitors over the last year.
The Pakistani rupee increased by 3.1% versus the US dollar, reaching Rs278.12 per dollar in the MSCI Asia Emerging and Frontiers Market Index on Friday.
Pakistan rupee news: This extraordinary performance may be credited to a combination of causes, with foreign exchange inflows via the Roshan Digital Account (RDA) playing a crucial role.
The RDA has emerged as a critical gateway, permitting an infusion of $8 billion from foreign Pakistanis looking to help their relatives back home.
Aside from RDA inflows, strong remittances, consistent export numbers, and strategic loans from organizations such as the IMF and World Bank have also aided to the rupee’s rise.
Additionally, loan rollovers have increased Pakistan’s economic resilience, boosting investor confidence.
The Sri Lankan rupee now ranks second in Asia’s currency rankings, following a remarkable 2.7% gain.
of contrast, currencies of neighboring countries such as India, China, Vietnam, and Bangladesh have experienced falls of up to 5.6%.