Pakistani rupee has emerged as the world’s best performing currency as it appreciated the most against the US dollar in the past three months ended March 31, 2021. The rupee strengthened in the wake of excessive inflow of foreign currency from global sources compared to a limited outflow during the Covid-19 pandemic. Later, the rupee closed at Rs152.75 against the dollar in the domestic inter-bank market on Wednesday, Pakistan’s central bank reported. “The rupee may peak somewhere between Rs150 and Rs152 against the dollar under the current cycle of gains. Pakistan’s foreign currency reserves have remained at around three-year highs above $13 billion for the past couple of months.

Source: The Express Tribune April 01, 2021 03:45 UTC