Ishaq Dar affect? Rupee gains massively against dollar in interbank market

KARACHI: The Pakistani rupee continued to recover against the US dollar for the second consecutive session on Monday, according to the Exchange Companies Association of Pakistan (ECAP).

The local unit gained ground in view of expected dollar inflows from international lenders to support Pakistan’s relief and reconstruction efforts after the cataclysmic floods.

The rupee Friday broke its losing streak against the dollar after continuously depreciating for 15 consecutive sessions as the economy suffered following catastrophic floods.

In the interbank market during the intraday trade today, the rupee gained 3.76 against the dollar to reach 235.99, up in value from the previous session’s close of 239.65.

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