A roadside money changer handling Pakistani rupee coins in Karachi, Pakistan.
Bloomberg | Bloomberg | Getty ImagesThe Pakistani rupee has rebounded from an all-time low to become the world's top performing currency — and there's still room to strengthen, analysts say.
The currency plummeted to a record low of 307 rupees against the greenback in early September, according to data from LSEG.
This was largely owed to a government clampdown on a widespread illicit dollar trade.
The lofty figure was largely owed to the weakness of Pakistan's currency, reduced domestic fuel and electricity subsidies, and supply chain disruptions, the report said.
Persons:
there's, Tahir Abbas Arif Habib, Tahir Abbas, Arif Habib, Abbas, Steve Hanke
Organizations:
Bloomberg, Getty, PKR, South Korean, Federal Investigation Agency, Pakistan, CNBC, Johns Hopkins University, Bank, World Bank, Johns Hopkins
Locations:
Karachi, Pakistan, LSEG