Rupee recovers 20 paisas against dollar

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

The exchange rate ended at Rs168.52 against the dollar from the previous day’s closing of Rs168.72 in the interbank foreign exchange market.

The dealers said the market witnessed inflows of export receipts and workers’ remittances during the day, which helped the rupee recover value against the dollar.

The demand for the foreign currency remained higher due to external payments pressure, the dealers said, adding that the widening of the current account deficit and trade deficit also resulted in the negative sentiments in the market.