ISLAMABAD, Sept. 1 (Xinhua) -- The Pakistani rupee gained a slight recovery following 10 sessions of crash mode against the U.S. dollar, as the greenback was traded at 305.47 rupees in the interbank market on Friday, according to the State Bank of Pakistan (SBP).
The U.S. dollar closed at a record low of 305.54 rupees on Thursday. On the last session of the week, the local currency appreciated 0.07 rupee, or about 0.02 percent, against the U.S. dollar, official figures showed.
In a lastest development on Friday, the central bank in a statement quashed rumors regarding the holding of an emergency meeting of the monetary policy committee (MPC) of the SBP.
Rumors swirled in the market that the SBP in an emergency MPC would significantly increase the policy rate due to the deepening economic situation in Pakistan which has generated negative sentiments in the market. ■