ISLAMABAD, Nov 5 (NNN-APP) – Pakistani rupee recorded a slight recovery despite the constant strengthening of the U.S. dollar against other currencies, as the greenback was traded at 221.92 rupees in the interbank market yesterday, according to the State Bank of Pakistan (SBP).
The U.S. dollar closed at 221.95 rupees on Thursday, and on the last working day, the local currency appreciated by 0.03 rupee, or about 0.01 percent, against the U.S. dollar, the official figures showed.
According to market analysts, strict monitoring of the government authorities, led to the stability of the local currency.
Additionally, analysts attributed the rupee’s gain, to the increase in the country’s foreign exchange reserves, following the receipt of 1.5 billion dollars from the Asian Development Bank, in financing to help the country in its rehabilitation efforts amid devastating floods.– NNN-APP
