Rupee recovers two paisas amid payment demand

KARACHI: The Pak Rupee recovered two paisas against the dollar on Tuesday despite higher demand for import and corporate payments.

The rupee ended Rs160.37 to the dollar from last day’s closing of Rs160.39 in the interbank foreign exchange market.

Currency dealers said that the local unit saw recovery after two trading days. They said that the market witnessed demand for import and corporate payments. However, supply of the foreign currency supported the local unit to make gain.

The dealers hoped that the rupee likely to make gain in coming days owing to inflows of workers’ remittances and export receipts.

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