Pakistani rupee to become world’s highest-yielding currency

PakistanThe rupee is all set to become the best performer. globally this month, when a government crackdown on illegal dollar trading helped reverse its fortunes.

The rupiah rose nearly 6% in September, a notable feat as most currencies, including the Thai baht and South Korean won, fell against the dollar on speculation that U.S. interest rates will remain elevated for longer. The currency rose 0.1% to 287.95 per dollar on Thursday, after falling to a record low of around 307 this month. Pakistan’s foreign exchange market is closed due to public holidays on Friday.