KARACHI: Despite suffering heavy losses this week, the Pakistani rupee made a partial recovery of Rs2.6 to Rs156.7 in the interbank. From Monday onwards, the rupee shed its value from Rs154.25 to climb Rs157.9 and it lost Rs3.65 in a single day. The dollar continued to surge and reached Rs159.3 before losing some value on Friday. The rupee is likely to be under pressure considering the outflow of dollars due to the liquidity concerns of foreign investors. It is expected that by the end of this week, T-bills’ outflows from the Special Convertible Rupee Account (SCRA) will cross $800 million.

Source: Pakistan Today March 14, 2020 09:56 UTC