Rupee makes sharp recovery against dollar as Dar returns

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KARACHI – Pakistani currency continued to stabilize for the second consecutive working day, as it made fresh recovery against the US dollar in the inter-bank market on Monday.

According to details, the local currency appreciated by Rs2.63 against the greenback and closed at Rs237.02. The rupee had closed at Rs239.65 on Friday, according to Pakistan’s central bank data.

With the latest day-to-day gain, the rupee has cumulatively recovered Rs2.7 in the past two working days. 

In open market, the local unit has posted a massive recovery of Rs7 and was being traded around Rs238.

The bull has also returned to the Pakistan Stock Exchange as benchmark KSE-100 index gainedover 400 points and was being traded around 41,000 points.