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Rupee Becomes 3rd Best Performing Currency in Asia

The Pakistani rupee is the third best currency in Asia after continuing its unhindered rise against the US dollar on Monday and closing the day at 158.91 on the interbank market. The Pakistani rupee also hit an 8-month high against the US dollar yesterday.

The Pakistani rupee has appreciated 3.1% against the US dollar since October 1, according to Alpha Beta Core, an investment banking, corporate finance and technology advisory platform.

The Pakistani rupee has strengthened since October 1st, due to higher influx of dollars into the economy from remittances and export earnings.

In addition to the Pakistani rupee, the Indonesian rupiah, after recovering 4.5% against the US dollar and the South Korean won after recovering 3.6% against the US dollar since October 1, are the two best Asian currencies with the best performance.

Alpha Beta Core CEO Khurram Shehzad said improving the rupee-dollar parity will ease pressures on the country’s external debt as well as imported inflation.

Shehzad added that exports should not be affected in the short term as the country’s export capacity is already reported to be 100% to 120%, while the REER index (measuring competitiveness by relative currency parity) also leaves room for further improvement. Dollar parity.

A.A.H. Commenting on the rupee-dollar parity, Soomro, managing director of Khadim Ali Shah Bukhari Securities, said: “Dollar inflows are above expectations. Expect another good show on transfers and checking accounts. When oil prices are low, investors de-dollarize their savings. Expect more foreign currency reserves once the IMF (International Monetary Fund) tranche is cleared. A few milestones before that. “

The local currency is gaining ground on a slowdown in importers’ demand for USD, while healthy inflows from remittances and export earnings also increased the value of the rupee. On the other hand, exports are stable and improving.

پاکستانی روپیہ پیر کو امریکی ڈالر کے مقابلے میں بغیر کسی چڑھائی کے جاری رہنے کے بعد ایشیاء کی تیسری بہترین کارکردگی کا مظاہرہ کرنے والی کرنسی بن گیا ہے ، اور انٹربینک مارکیٹ میں یہ دن 158.91 پر بند ہوا۔ گذشتہ روز امریکی ڈالر کے مقابلے میں پاکستانی روپیہ بھی 8 ماہ کی اونچائی پر آگیا۔

یکم اکتوبر کے بعد سے ، سرمایہ کاری بینکاری اور کارپوریٹ فنانس اور ٹکنالوجی ایڈوائزری پلیٹ فارم ، الفا بیٹا کور کے مطابق ، پاکستانی روپے نے امریکی ڈالر کے مقابلے میں 3.1 فیصد کی تعریف کی ہے۔

یکم اکتوبر سے ترسیلات زر اور برآمدات کی کمائی کی وجہ سے معیشت میں ڈالروں کے اضافے کے باعث پاکستانی روپیہ مضبوط ہوا ہے۔

پاکستانی روپے کے علاوہ ، انڈونیشی روپیہ ، امریکی ڈالر کے مقابلے میں 4.5 فیصد اور جنوبی کوریائی وان کے بعد ، امریکی ڈالر کے مقابلے میں 3.6 فیصد حاصل کرنے کے بعد ، 1 اکتوبر سے سب سے بہترین کارکردگی دکھانے والی ایشیائی کرنسیوں میں سب سے پہلے ہیں۔

سی ای او الفا بیٹا کور ، خرم شہزاد نے کہا ہے کہ روپیہ ڈالر کی برابری میں بہتری سے بیرونی قرضوں کے ساتھ ساتھ ملک میں درآمدی افراط زر پر دباؤ کم ہوگا۔

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