Rupee recovers against dollar

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2012-03-10T00:35:42+05:00 Reuters



KARACHI
The rupee ended firmer at 90.70/78 to the dollar on Friday, compared to its close of 90.81/86 on Thursday, amid lack of import payments. Dealers expect pressure on the rupee because of rising global oil prices. Oil was trading above $125 a barrel on Friday. The rupee touched a record low of 91.28 to the dollar in January, dragged down by concerns over higher payments for oil imports and Pakistan's overall economic health. The SBP warned last month that financing the country's projected current account deficit would be a challenge.

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