Rupee recovers 10 paisas in early trade

KARACHI: The Pak Rupee recovered 10 paisas against the US dollar in early trade on Thursday owing to strong response by Pakistan to Indian aggression.

The dollar is being traded at Rs138.16 in interbank foreign exchange market. The foreign currency market was ended on Wednesday at Rs138.26 as exchange rate lost 38 paisas.

Currency experts said that the shooting down two Indian fighter jets a day earlier by Pakistani Air Force boosted the confidence of market.

The rupee had maintained levels during the last week owing to investment prospects and shrinking current account deficit.

However, latest conflict between Pakistan and India dragged down the value of the local unit.

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