KARACHI: The Pakistani rupee continued its recovery against the United States (US) dollar for the third consecutive day in the interbank currency market on Friday.
According to the State Bank of Pakistan, the local unit closed at Rs171.65 against the greenback, registering appreciation of 61 paisas (0.36%) over the previous close of Rs172.26.
The rupee started recovering from its steep fall against the US dollar on Oct 27, after the government announced Saudi Arabia’s financial support of up to $4.2 billion, raising the central bank’s foreign exchange reserves and boosting the sentiments of the currency market.
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PM Imran Khan thanked Crown Prince Mohammed bin Salman following the Saudi Arabian “generous gesture” of depositing $3 billion in the Pakistani central bank to support the country’s foreign exchange reserves.
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