Rupee hits new all-time low of 170 48/dollar thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
KARACHI: The rupee again fell on Wednesday to hit a new record low of 169.70 to the dollar, but trimmed some losses before close on suspected central bank intervention, dealers.
Rupee rises as world’s best performer this year
Business
April 1, 2021
KARACHI: Terming rupee’s becoming world’s best performer in the first quarter of this year as tremendous, analysts on Wednesday however warned against sharp currency movements.
The rupee benefited in a big way from robust foreign exchange inflows from Pakistani diaspora in the form of remittances, Roshan Digital Account, resumption of International Monetary Fund’s (IMF) loan program, issuance of Eurobonds, and anticipated inflows from multilateral institutions.
“PKR has been the world’s best currency against USD from January 1st to March 31st,” said Muzammil Aslam, CEO at Tangent Capital in a Tweet, citing Bloomberg data.