The local unit gained eight paisas to reach Rs305.46 at the closing of the interbank market against the closing of Rs305.54 the previous day.

On the other hand, the dollar continued to rise in the open market as it gained by Rs3 on Friday. The greenback was available at Rs330 in the open market.

Meanwhile, the Pakistan Stock Exchange rebounded from the last session’s closing when it shed 1,242.14 points over political and economic turmoil.

The benchmark KSE-100 Index gained 224.04 points, or 0.50%, as it was trading at 45,226.45 levels in midday trading. The KSE-30 Index added 84.26 points, or 0.53%, and was trading at 16,054.18 levels during intraday trading on Friday.

The positive sentiments were witnessed in both capital and interbank markets amid a rebuttal by the State Bank of Pakistan regarding an emergency meeting of the Monetary Police Committee.

Reports had earlier suggested that the central bank is likely to hike the key policy rate by 300 basis points.