KARACHI – The Pakistani rupee has surfaced as the world’s best-performingcurrency as it strengthened against the US dollar in the past three monthsof 2021.
PKR strengthened in the wake of excessive inflow of foreign currency fromglobal sources compared to a limited outflow during the coronaviruspandemic.
Tangent Capital Advisers CEO Muzammil Aslam quoted the Bloomberg data inthe latest tweet. The Pakistani rupee has been the world’s best currencyagainst the US dollar from January 1 to March 31, he wrote in the tweet.
Data released by Bloomberg stated that the Canadian dollar stood at thesecond position among the top-performing currencies.
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On the other hand, Pakistan’s foreign currency reserves have remained atthree-year highs for the past couple of months. The reserves would alsolikely to grow further with an addition of the IMF tranche worth $500million, the $2.5 billion raised through Eurobond and other inflows fromthe World Bank and Asian Development Bank (ADB).
