Rupee recovers in inter-bank market

KARACHI: The Pakistani rupee appreciated by 14 paisas against the United States (US) dollar in the interbank currency market on Tuesday.

According to the State Bank of Pakistan (SBP), the local unit closed at Rs163.76 against the greenback, registering appreciation of 14 paisas over the previous close of Rs163.90.

Interbank closing #ExchangeRate for today:https://t.co/QrOS1S8tV6 pic.twitter.com/VvyfAjz5ru

— SBP (@StateBank_Pak) August 10, 2021

The US dollar touched a 10-month high and was traded at Rs164 last week. The last time the greenback crossed the 164 mark was in October 2020.

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The rupee had touched an all-time low of 168.43 against the greenback last year in August before recouping some losses to hit a 22-month high of Rs152.95 in April, 2021.