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Rupee Becomes World's best Currency timesofpakistan.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesofpakistan.pk Daily Mail and Mail on Sunday newspapers.
Rupee becomes world’s best currency Gains significant ground against dollar in wake of excessive inflow of foreign currency KARACHI: 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. Taking to his Twitter handle, Tangent Capital Advisers CEO Muzammil Aslam while citing Bloomberg data tweeted, “Pakistani rupee has been the world’s best currency against the US dollar from January 1 to March 31.” ....
Market watch: PSX soars 2.2% as political turmoil eases Benchmark index skyrockets 978.51 points to settle at 44,766.59 Overall trading volumes surged to 455.5 million shares compared with Friday’s tally of 442.6 million. PHOTO: FILE KARACHI: Bulls dominated trading at the Pakistan Stock Exchange (PSX) on Monday as the benchmark KSE-100 index rallied, gaining nearly 1,000 points on the back of strong investor sentiment. Clarity on the political front after the Senate chairman election – which saw Sadiq Sanjrani come back as the upper house chairman – and diminishing concerns over withdrawal of tax exemptions encouraged market players to buy stocks. Investors also took cue from global financial markets, which helped the index power past the 44,000-point mark. ....
Experts are divided whether a significant growth of 25% in Pakistan’s imports in a single month is sustainable as imports are expected to remain high and heighten payment pressure ahead of the reopening of export markets. ....
Remittances received by the country from overseas Pakistanis set another record in December 2020 as inflows stood above $2 billion for the sixth consecutive month ....