This time Pakistan showed a big surprise. Pakistan has overtaken regional rival Sri Lanka. The country has taken the top spot in Asia’s currency ranking. The Pakistani rupee appreciated by 3.1 percent, gaining significant exchange rate against the dollar. News from Sama TV and Express Tribune.
According to the report of the two news media, this improvement of the Pakistani rupee has been achieved due to the convergence of several aspects. Foreign exchange inflow through Roshan Digital Account (RDA) has also been a significant factor. RDA has become an important channel for expatriate Pakistanis to send money to their families. So far, expatriates have remitted about 8 billion dollars to the country through the channel.
Apart from money flow through RDA, strong remittances, stable export figures and strategic lending from institutions like IMF and World Bank have also contributed to the rupee’s strong position.
All these credit rollovers have added resilience to Pakistan’s economy, boosting investor confidence.
The Sri Lankan Rupee has been ranked second in Asia’s currency rankings. The country’s currency exchange rate has improved by 2.7 percent.
On the contrary, the currencies of neighboring countries like India, China, Vietnam and Bangladesh have depreciated up to 5.6 percent.
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