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Rupee recovers against US dollar in interbank market

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News Stories Posted by ARY News Digital Team

KARACHI: The Pakistani rupee appreciated by Rs0.19 paisa against the US dollar in the interbank market on Wednesday, ARY News reported.

According to forex dealers, the greenback closed at Rs168.07 against the domestic currency at the interbank foreign exchange market.

The dollar had finished at Rs167.88 against the local unit the other day.

Meanwhile, the dollar in the international market inched ahead on Wednesday, as a jump in U.S. yields pushed it higher against the Japanese yen.

The yen fell 0.24% to 106.76 per dollar, its lowest since July 24. The tumbling gold price, which has dropped roughly 7% in two days, also dragged on the Australian dollar since Australia is the world’s second biggest gold producer.

Read More: Asian stocks slip as US stimulus doubts mount

The Aussie fell 0.35% to $0.7120 while the New Zealand dollar fell 0.5% to $0.6547.

It last sat at 93.846. Against the euro the greenback was a tad firmer at $1.1718 and against the pound it extended Tuesday gains that followed a weak British jobs report to hit $1.3021 per pound.

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