Rupee makes significant gain of Re1 against dollar in early trade

KARACHI: The Pak Rupee witnessed massive recovery of Re1 against dollar in early trade on Friday, dealers said.

The dollar is being traded at Rs157.24 in early trade on Friday as compared with last day’s closing of Rs158.24 in interbank foreign exchange market.

Currency experts said that positive economic indicators and sharp recovery in the stock exchange boosted the confidence of the investors.

Besides, contraction in current account deficit also helped the rupee to recover against the greenback.

The rupee witnessed sharp decline against the dollar in the past two years. However, for the last few days the local unit was making recovery gradually.

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