Dollar strengthens against rupee in interbank market

After weakening by Rs 6.99 or 4.19% in the last six days, the US dollar rebounded on Friday by Rs 1 or 0.62% against rupee in early trade in the interbank market. 

According to the State Bank of Pakistan, the local currency strengthened against the dollar at Rs159.98 in the interbank market on Thursday compared with Wednesday’s close of Rs160.36. 

Earlier, falling demand coupled with a surge in supply pushed the dollar’s price in the open market on Wednesday in early trade and greenback traded at Rs159.96.

The Pakistani rupee had continued with the bullish trend on Tuesday, gaining Rs2.37 against US dollar in the interbank market to close at Rs161.12, as against the previous close at Rs163.49.

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