The rupee gains 20 paisas against the dollar

KARACHI: Due to a supply of foreign currency during the day, the rupee recovered 20 paisas against the dollar on Tuesday, dealers said.

The rupee closed the day at Rs168.52 per dollar, down from the previous day’s close of Rs168.72 in the interbank foreign currency market.

During the day, the market saw inflows of export revenues and worker remittances, which helped the rupee regain value versus the dollar, according to traders.

The demand for foreign currency remained strong owing to external payments pressure, according to dealers, who added that the expansion of the current account and trade deficits also contributed to the market’s negative attitude.

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