The Pakistani rupee gained strength against the dollar on Tuesday in the interbank foreign exchange market after a three-day holiday.

The local unit gained 16 paisas against the greenback which was trading at Rs282.37 at the closing of the market, as against the closing of Rs282.53 on December 22.

Along with two weekly holidays, the interbank was closing on December 25 on the occasion of Quaid-e-Azam’s birth anniversary.

In the open market, the buying of the dollar was recorded at Rs282.7 while it was quoted at 285.2 for selling at the time of filing the story.

Globally, the dollar was trying to find a floor on Tuesday in holiday-thinned trade, pressured by signs that inflation in the world’s largest economy is cooling which will likely give the Federal Reserve room to ease interest rates next year.