Pakistani rupee became the third best-performing currency in Asia after the currency hit almost eight-month high at Rs158.91 against the US dollar in the interbank market. With fresh recovery of Rs0.18 on Monday, the rupee has cumulatively regained Rs9.52 or 5.65% over the past 11 weeks since touching all-time low of Rs168.43 on August 26.
The development may help to tackle high inflation as Pakistan has turned net importer of wheat, sugar and cotton this year to improve supplies. Earlier, a shortfall in the production of agricultural commodities caused a surge in their prices in the country.
Source: Express Tribune