{"id":1831,"date":"2023-10-18T05:50:41","date_gmt":"2023-10-18T05:50:41","guid":{"rendered":"https:\/\/connectwithfund.com\/news\/this-currency-is-now-the-worlds-top-performer-after-rebounding-from-record-lows\/"},"modified":"2023-10-18T05:50:42","modified_gmt":"2023-10-18T05:50:42","slug":"this-currency-is-now-the-worlds-top-performer-after-rebounding-from-record-lows","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=1831","title":{"rendered":"This currency is now the world\u2019s top performer, after rebounding from record lows"},"content":{"rendered":"
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The Pakistani rupee has rebounded from an all-time low to become the world’s top performing currency \u2014 and there’s still room to strengthen, analysts say.<\/p>\n

The currency plummeted to a record low of 307 rupees against the greenback in early September, according to data from LSEG.<\/p>\n

It has since gained over 8% to trade at 275 against the dollar, marking the strongest bounce among other currencies and outpacing them to become the best performer last month.\u00a0<\/p>\n

This was largely owed to a government clampdown on a widespread illicit dollar trade.\u00a0<\/p>\n

“Pakistan’s rupee was the top performer globally this month as a government crackdown on the illegal dollar trade helped reverse its fortunes,” HDFC securities said in a recent report.<\/p>\n<\/div>\n

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The PKR currency is expected to strengthen further, given the continuation of the crackdown and enforcement of the state policy.<\/p>\n

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Tahir Abbas<\/p>\n

Arif Habib Limited<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/blockquote>\n

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“A remarkable feat as most currencies including the Thai baht