Staff Reporter
Karachi
The Pak Rupee recovered 58 paisas against dollar on Wednesday on inflows of remittances and export receipts, currency dealers said. Rupee ended Rs164.35 to the dollar from previous day’s closing of Rs164.89 in interbank foreign exchange market. Earlier, in the first two days of the current week the rupee depreciated by Rs1.90 against the dollar. The dealers said that the rupee was remained under pressure during the day. However, inflows of dollars in shape of remittances and export receipts helped the rupee to recover against the greenback. Currency experts said that the deterioration in rupee value was due to higher demand for import and corporate payments.
te Bank of Pakistan (SBP).
