Rupee makes sharp gains of Rs1.35 against dollar

KARACHI: The Pak Rupee made significant recovery of Rs1.35 against dollar on Thursday owing to measures taken by the government to check illegal outflows of the foreign currency.

The rupee ended Rs148.40 to the dollar from previous day’s closing of Rs149.75 in interbank foreign exchange market.

The interbank foreign exchange market was initiated in the range of Rs149.75 and Rs150.00.

The market recorded day high of Rs149.75 and low of Rs148.25 and closed at Rs148.40.

Currency experts said that the availability of the foreign currency was also improved as expatriates are sending amount to their relatives for Eid related expenses.

The exchange rate also witnessed improvement in the value of local currency.

The buying and selling of dollar was recorded at Rs148.75/Rs149.50 from previous day’s closing of Rs149.00/Rs150.00 in cash ready market.

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