The value of the US dollar saw a slight decline in Pakistan’s currency markets on Thursday, as it fell by 15 paisas in the interbank and 5 paisas in the open market.
In the interbank trading, the dollar’s value dropped to Rs277.70, marking a minor depreciation against the Pakistani rupee. Meanwhile, in the open market, the dollar recorded a decrease of 5 paisas, bringing its value down to Rs278.75.
Currency analysts suggest that the dip in dollar value is influenced by improved dollar inflows in recent days, which has slightly strengthened the rupee.
The Pakistan Stock Exchange (PSX) saw a strong rally as investors responded positively to reported progress in ongoing talks with the International Monetary Fund (IMF).
Also Read: KSE-100 Index crosses 94,000 points on positive IMF talks
Market sentiment turned bullish early in the trading session, with the PSX's benchmark KSE-100 Index climbing by 713 points to reach a record level of 94,068 points, surpassing the 94,000-point threshold.
The stock market's upward trajectory started early in the day as the KSE-100 Index experienced a steady rise, gaining 574 points earlier in the session to reach 93,932 points. The surge reflects investor optimism around a potential IMF agreement, which could bring greater fiscal stability and support Pakistan’s economic reforms.
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