Rupee recovers against dollar in early trading

KARACHI: The Pak Rupee recovered six paisas against US dollar in early trading on Tuesday, dealers said.

The dollar is being traded at Rs138.88 in interbank foreign exchange market.

The exchange rate was ended at Rs138.94 to the dollar in interbank foreign exchange market.

A day earlier the local currency depreciated by 54 paisas owing to pressure of import and corporate payments.

Market sources said that the rupee depreciated against the foreign currency due to recent discussions of Pakistan with the IMF for new loan program.

Pakistan has suffered challenging fiscal situation over the period of last one year.

According to the finance ministry revaluation losses due to appreciation of international currencies against US Dollar and depreciation of Pak Rupee against US Dollar increased the total public debt by around Rs 1.2 trillion.

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