KARACHI: Pakistani rupee gained 20 paisas against the dollar in early trade at the interbank foreign exchange market on Tuesday.

The dollar is being traded at Rs176 at the opening of the interbank market.

The exchange rate was closed at Rs17.20 on Monday, November 29, 2021.

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Currency dealers said that the appreciation of the local currency comes on the back of positive sentiment in the market as the State Bank of Pakistan and the Saudi Fund for Development signed a $3 billion deposit agreement on Monday, which will support Pakistan’s foreign currency reserves.

The local currency on Monday recorded the historic low closing of Rs176.20 against the dollar.

The buying and selling of the dollar at the open market was recorded at Rs176.5 and Rs178.