The local unit gained 17 paisas against the greenback which was trading at Rs282.2 at the closing of the market, as against the closing of Rs282.37 the previous day.

In the open market, the buying of the dollar was recorded at Rs282 while it was quoted at 284.5 for selling at the time of filing the story.

Meanwhile, the World Bank has expressed its fear that critical reforms, particularly trade tariff reforms, would be rolled back after the general elections, owing to vested interests, Dawn reported.

“Stakeholder risks are high due to strong and organised vested interests, potentially advocating to reverse critical reforms, particularly trade tariff reforms, increases to property taxation and energy sector reforms,” said the international lending agency said in an assessment of its $350 million loan which was approved under second Resilient Institutions for Sustainable Economy (Rise-II).

The loan was approved on December 20, as the bank stressed that the country needed urgent fiscal and structural reforms to restore macroeconomic balance and lay the foundations for sustainable growth.