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Rupee makes comeback against US dollar in interbank market

KARACHI – After facing back-to-back blows, Pakistani rupee witnessed a comeback against the US dollar, registering an upward trend in the inter-bank market on Thursday.

During the early hours of trading, the local currency moved up by Rs1.28 in the interbank market, and the dollar was quoted at Rs288.10.

Earlier this week, the rupee registered three losses against the greenback as the currency plummeted. On Wednesday, PKR was settled at 289.38, with a loss of Rs1.84.

Market experts linked the recent changes with the rise in US dollar value to demand-supply pressure while relaxation in import restrictions further pushed the dollar.

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