PKR jumps by Rs2 against dollar

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The Pakistani rupee’s recovery streak continued on Friday with a gain of Rs2.02 against the dollar in the interbank market.

The local currency closed at Rs219.92 per dollar, according to the State Bank of Pakistan. This equates to an appreciation of 0.92 per cent from yesterday’s close of Rs221.94. The rupee has recovered by Rs19.79 or 8.26pc in the last 11 sessions after falling close to an all-time low of Rs239.94 on Sept 22. Exchange Companies Association of Pakistan General Secretary Zafar Paracha said the rupee’s value was improving because of regulators’ strict monitoring and action against speculators.

 

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