Pak rupee makes strong recovery against dollar, gains Rs12.43 in interbank.

After Thursday's historic decline in the Pakistani rupee's value, the local unit gained Rs12.43 against the US dollar in a "dramatic twist" in early trading session on Friday.

The dollar was being traded at Rs286.50 during the inter: bank trade around 10:15am. On Thursday, the dollar reached all: time high of Rs298.93 after gaining Rs8.71 in the interbank market, and Rs305 in the open market.

The release of PTI Chairman Imran Khan on the orders of the Supreme Court of Pakistan is said to be a prime factor in recovery of the local unit against the greenback.

: : 'Bloodbath' as PKR touches all: time low of 298.93 against US dollar : :

The Pakistani rupee on Thursday continued setting new records in its value against the US dollar as the local unit lost Rs8.71 in the interbank market on Thursday.

The local currency closed at Rs298.93 at around 03:30pm. In the open market, the dollar jumped by Rs10 to close at Rs305 against the Pakistani rupee.

The dollar has appreciated Rs15.34 against the Pakistani rupee in the last four days. The greenback gained Rs120 against the local currency during 13: month tenure of Shehbaz Sharif as the prime minister of Pakistan.

The weakening of the local unit is being attributed to the ongoing political turmoil after the arrest of PTI Chairman Imran Khan and other key leaders.

A day earlier, the local currency posted a record loss...