KARACHI: The Pak Rupee (PKR) made a recovery of 11 paisas against the dollar on Tuesday. The local currency recovered the value despite dollar demand for import payments.
The rupee ended at Rs164.08 to the dollar in interbank foreign exchange market. The local unit ended at Rs164.19 to the dollar a day earlier.
Currency experts said that sufficient dollars were available in the market during the day. This helped the local currency to make recovery.
It is important the rupee made gain ahead of two weekly public holidays. The market will remain closed on August 18 and August 19, 2021 due to Muharram.
The rupee was remained under pressure since start of current fiscal year. The local currency has lost Rs6.54 against the dollar since July 01, 2021.