In the foreign exchange market, the Pakistani rupee showed some depreciation against the US dollar on Tuesday afternoon.
Currency dealers report that on the second day of the business week, the value of the US dollar rose by 17 paisas to Rs278.50.
At the start of the business day, the dollar initially saw a reduction of 8 paisas in the interbank market. However, due to increased demand, the value of the dollar is observed to be rising again.
Yesterday, the value of the US dollar had also slightly increased against the Pakistani rupee in the foreign exchange market, with the State Bank reporting a closing rate of Rs278.33 during interbank trading.
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Simultaneously, the Pakistan Stock Exchange is experiencing a positive trend on the second day of the business week. At the beginning of the trading day on Tuesday, a bullish trend was observed in the market, leading to a significant increase by 200 points in the KSE-100 index, reaching 71,635 points.
This positive momentum follows yesterday's closing of the stock market at 71,433 points.
Federal Finance Minister Muhammad Aurangzeb has expressed confidence in the government's efforts to improve the economy, citing increased tax collection through these measures and a reduction in the current account deficit as signs of progress.
He also highlighted the positive impact of government initiatives on tax collection and the economy. He emphasized that despite challenges, the economy is on an upward trajectory, with measures such as the IMF's nine-month program providing crucial support to the economy.
