KARACHI: The rupee posted some gains against the dollar in the foreign exchange market on Wednesday, dealers said.
In the interbank market, the rupee closed at 98.13 to the dollar, up by nine paisas as compared to Tuesday’s closing of 98.22.
Dealers said that the local currency witnessed some recovery against the greenback due to its lower demand from importers.
However, at the same time, they warned that the stability in the value of the rupee is a temporarily phenomenon as the exchange rate is expected to come under pressure again in the coming week on account of the debt repayments to the International Monetary Fund (IMF).
