KARACHI: The Pakistani rupee recovered partially on Wednesday and closed at 201.52 against the US dollar in the interbank market.
According to data released by the State Bank of Pakistan (SBP), the local currency gained Rs1.31, or 0.64%, against the greenback.
The US dollar is being sold at between Rs201 to Rs204 in the open market against the rupee, said, forex dealers.
The hope of IMF program revival and government denial to curb the foreign currency trade played a role to stabilize the local currency. Yesterday, the US dollar saw an increase of Rs. 2.76 to reach a record high of 202.82 which makes it the total increase of Rs 4.90 in two days, while in the Open Market US dollar recorded a massive Rs. 5 increase.
