The Pakistani rupee continued to recover in the interbank market, extending its gains against the dollar for the 12 consecutive sessions.
According to the Forex Association of Pakistan (FAP), the local currency gained Rs1.46 against the greenback during intraday trading in the interbank market. The rupee was being traded at Rs218.46 in interbank at around 10:19 am.
Meanwhile, the banks were selling dollar at Rs219.11. In open market, the greenback was being traded between Rs219 and Rs221.
Earlier on October 7, the Pakistani rupee’s recovery streak with a gain of Rs2.02 against the dollar in the interbank market. The local currency closed at Rs219.92 per dollar, according to the State Bank of Pakistan (SBP).
The rupee has recovered by Rs19.79 or 8.26pc in the last 11 sessions after falling close to an all-time low of Rs239.94 on Sept 22.