KARACHI: The Pak Rupee recovered nine paisas against the dollar on Friday owing to reduction in requirement of statutory liquidity ratio (SLR) for exchange companies.
The rupee ended Rs153.36 to the dollar from previous day’s closing of Rs153.45 in the interbank foreign exchange market.
The rupee was continuously deteriorating against the dollar on resumption of trading after Eid holidays.
Currency experts said that a day earlier the State Bank of Pakistan (SBP) reduced the requirement of SLR from 25 percent to 15 percent for exchange companies in order to facilitate inflow of home remittances through banking channels.
Further, the experts said that the inflows of export receipt also helped the rupee to make gain.
They said that the dollar may rebound in coming days due to payment demand for imports and corporate sector.