*KARACHI:*
Pakistani Rupee strongly bounces back against the US dollar in interbankmarket.
The Pakistani currency recovered Rs1.20 to a two-month high at Rs166.23 tothe US dollar in the inter-bank market on Monday as supply of the foreigncurrency increased with exporters selling dollars on futures counters.
“Exporters have reportedly sold a significant amount of dollars,” PakistanKuwait Investment Company (PKIC) Head of Research and Development SamiullahTariq said while talking to The Express Tribune.
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Exporters sold the foreign currency at the futures counters ahead ofreceipt of export payments in the forthcoming days and weeks. Market talksuggests the exporters sold around $150 million in the inter-bank marketduring the day.
The rupee has cumulatively regained Rs2.14 against the greenback in thepast three consecutive working days, according to the State Bank ofPakistan (SBP).
