Asia’s worst-performing currency has a tougher year ahead

The Pakistani rupee is on track to finish the year as the worst-performing currency in Asia, and the losses are seen extending into 2024. This year, the Pakistani rupee has dropped by approximately 20% against the USD. Pakistan's inflation rate has surged from around 9% in 2021 to roughly 30% in the fiscal year 2023, while the trade deficit in the second quarter of FY 24 was $5.9 billion. High inflation and trade deficit are the primary factors contributing to the decline of the Pakistani rupee. To know more, watch the video.