Rupee recovers in inter-bank market.

KARACHI -- Pakistan's central bank has apparently come up to rescue the rupee, as it partially recovered against the US dollar in intra-day trade in the inter-bank market on Friday.

The market talks suggested the central has intervened, meaning it supplied the dollars in the inter-bank market to fulfil demand.

The rupee had lost to a new record low at Rs168.50 to the US dollar in the first session on Friday compared to Thursday's close at Rs166.13.

Later on, the local currency managed to recover and hovered around Rs165-166, according to market sources.

The State Bank of Pakistan (SBP) keeps its intervention operations secret, as it never discloses it publically.

SBP Governor Reza Baqir has said several times in the recent past they intervene in the market when they find it essential.

Otherwise, market players (commercial banks) determine the rupee-dollar exchange rate depending upon the supply and demand situation of the...