Rupee recovers 2.3pc in open market

KARACHI: The rupee staged a surprise recovery of Rs7 or 2.3 per cent against the US dollar on Tuesday in the open market. Currency dealers said this appreciation of the rupee was due to the release of about $5 million of exchange companies pending with the State Bank of Pakistan (SBP). The dollar was trading at Rs305 before the release of $5m, but it saw … Continue reading Rupee recovers 2.3pc in open market