KARACHI: After suffering massive losses this week, the rupee on Wednesday made a recovery of Rs1.31 against the US dollar in the interbank market.

According to the State Bank of Pakistan (SBP), the greenback closed at Rs201.52 after losing Rs2.60 against the previous day’s close of Rs202. The US dollar is being sold at between Rs201 to Rs204 in open market against the rupee, said forex dealers.

The Pakistani rupee on Tuesday further weakened in the interbank market and closed at 202.83 against the US dollar amid budget uncertainties as matters with the International Monetary Fund (IMF) are yet to be finalized.