KARACHI: The Pak Rupee recovered Rs1.09 against the dollar on Monday. The sharp recovery can be attributed to significant increase in foreign exchange reserves.
The rupee ended at Rs161.23 to the dollar from last Friday’s closing of Rs162.32 in the interbank foreign exchange market.
The foreign exchange reserves of the country reached $25.128 billion after transfer of $1.04 billion against the proceeds of Eurobond, according to the State Bank of Pakistan (SBP).
Currency experts said that latest measures to impose restrictions for preventing coronavirus spread also helped the rupee to make gains.
