Rupee gains significant ground against USD, trades at Rs228.50 in interbank
KARACHI:
The Pakistani rupee made its first major recovery of around Rs10 to reach a one-week high of Rs228.50 against the US dollar in the inter-bank market on Wednesday.
The domestic currency had closed at Rs238.38 against the greenback on Tuesday.
Earlier, the rupee had hit an all-time low of Rs239.94 last Thursday (July 28), after depreciating by 13.75% (or Rs31.31) during the prior 10 working days.
The rupee recovered after Pakistan reported that its trade deficit had reduced by almost half to $2.64 billion in July compared to $4.96 billion in June.
Retrieved from: https://tribune.com.pk/story/2369243/rupee-gains-significant-ground-against-usd-trades-at-rs22850-in-interbank
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