KARACHI: The Pak Rupee (PKR) ended four-day losing streak against the dollar on Friday and recovered 27 paisas in the interbank foreign exchange market.
The rupee ended Rs186.70 to the dollar from the previous day’s closing of Rs186.97 in the interbank foreign exchange market.
READ MORE: Dollar ends near PKR 187 in interbank market
Currency analysts said that inflows of remittances related to Eid festival helped the rupee to make recovery against the dollar.
Further, foreign exchange reserves after many weeks showed a slight increase has also helped the rupee to make gains.
READ MORE: Rupee falls Rs4.37 to dollar in fresh wave
The rupee witnessed a continuous decline against the dollar during April 18 to April 21. The depreciation in local currency may be attributed to a significant fall in foreign exchange reserves.
READ MORE: Dollar climbs up to Rs184.44 at interbank closing
