Rupee gains 30 paise against dollar

KARACHI: The rupee rose 30 paise in the interbank market to Rs214.65 from Rs214.95 in the previous session.

However, the dollar was up by Re1 to Rs219 in the open market, highlighting the stark gap in greenback prices between the two markets.

Currency dealers said the current exchange rate is almost at the same level throughout this week, which is good for the local currency as it appreciated most of the time during the ongoing fiscal year.

The State Bank of Pakistan and the government are trying to stop the outflow of dollars from the country — first by reducing the import bill, and secondly, by cracking down on dolalr smuggling from the country, mostly towards Afghanistan.