Pakistani Rupee Ranks Third in Asia in Chase Against US Dollar
Economists believe that a stable currency against dollar would help bringing down inflation
WEB DESK: Pakistan Rupee (PKR) ranked third best-performing currency in South Asia as it appreciated by 3.1% since October 1, 2020.
PKR hit an eight-month high at Rs158.91 against the US dollar in the interbank market on November 9.
Indonesian rupiah had regained 4.5% while South Korean won recovered 3.6% since October 1, 2020.
While talking to News360, Economic expert Muhammad Sohail said that a strong and stable rupee against the US dollar would help restore investors’ confidence.
Besides this, he added that the rise in rupee value will help controlling inflation too.
However, Sohail said that external account risk needed to be analyzed in line with the rising rupee value against the US dollar.
