As per reports from Karachi's financial circles, a subtle yet notable fluctuation in the value of the US Dollar caught the attention of traders and investors alike.
At the time of closing on Wednesday, the Pakistani Rupee registered a rise against the American currency, increasing by 16 paisas in the interbank market. The local currency closed at Rs279.12, as per the State Bank of Pakistan (SBP).
Earlier, while the American currency experienced a marginal increase of 8 paisas at the beginning of the day's session to trade at Rs279.28, it later lost 28 paisas in the interbank market to trade at Rs279.
The scenario in the open market presented a different picture. Here, the Greenback witnessed a decrease of 24 paisas, bringing its value down to Rs282.4.
This fluctuation comes as the Pakistan Stock Exchange (PSX) witnessed a bullish trend amid the news of a National Assembly session being called for the oath-taking of newly elected lawmakers and formation of a six-party coalition government. A review by the IMF is also pending for the disbursement of the last tranche of a loan programme between the two side.
