Rupee recovers 11 paisas against dollar

Rupee recovers 11 paisas against dollar

KARACHI: The rupee recovered 11 paisas against dollar on Tuesday after ease in demand for import and corporate payments.

The rupee ended Rs168.27 to the dollar from previous day’s closing of Rs168.38 in interbank foreign exchange market.

Currency experts said that ease in demand from import and corporate side helped the rupee to recover last day’s losses.

The experts further said that the foreign inflows received by the central bank during past couple of weeks would help the rupee to further gain the value.

The liquid foreign exchange reserves of the country increased by $651 million by week ended July 30, 2020 owing to foreign inflows.

The total foreign exchange reserves of the country increased by $651 million to $19.563 billion by week ended July 30, 2020 as compared with $18.912 billion a week ago.

The official foreign exchange reserves of the SBP increased by $566 million to $12.542 billion by week ended July 20, 2020 as compared with $11.976 billion a week ago.

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