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Rupee sees a 17th consecutive recovery against dollar

ISLAMABAD-The Pakistani rupee gained Rs1.05 versus the US dollar in interbank trading on Wednesday, closing at Rs288.75, up from Rs289.80 the previous day. However, according to the Forex Association of Pakistan (FAP), the open market buying and selling rates for the dollar were Rs287.6 and Rs290.5, respectively.
According to the State Bank of Pakistan (SBP), the price of the Euro fell by Rs 1.86 to settle at Rs305.03, down from Rs306.89 the previous day. The Japanese Yen fell by one paisa to settle at Rs1.93, while the British Pound fell by Rs 2.29 to close at Rs350.74, compared to the previous close of Rs353.03. The UAE Dirham and Saudi Riyal exchange rates fell 28 paisas apiece to close at Rs78.61 and Rs76.97, respectively.