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Rupee recovers losses against US dollar

KARACHI: The Pakistani rupee appreciated 17 paisas against the United States (US) dollar on the last day of week’s trading in the interbank currency market on Friday.

According to the State Bank of Pakistan (SBP), the local currency closed at Rs153.45 against the greenback, registering appreciation of 17 paisas (0.11%) over the previous close of Rs153.45.

In the open market, however, the rupee rose 10 paisas to Rs153.90 from Rs154 against the dollar.

On April 28, the rupee had appreciated to 152.95 against the dollar, hitting a 22-month high.

The rupee has recovered more than Rs15 during the last seven months since it touched an all-time low of Rs168.43 last year in August.

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