Pakistani rupee beats Asian peers

The Pakistani rupee has emerged as the best performing currency in Asia after recording a notable appreciation against the US dollar over the past one year, as foreign currency inflows through the Roshan Digital Account (RDA) surpassed yet another historical threshold of $8 billion, which extended support to the currency.

The State Bank of Pakistan (SBP) reported on Friday that non-resident Pakistanis had sent over $8 billion through the RDA since the introduction of the scheme about 45 months ago in September 2020. The bank thanked the overseas Pakistanis for their unwavering support and trust.

The development suggests that the expatriates sent $169 million from May 1 to 24, 2024 which boosted gross inflows to more than $8 billion from $7.83 billion at the end of April 2024. The increase in RDA inflows came ahead of Eidul Azha in mid-June.