On Thursday morning, the value of the US Dollar against the Pakistani Rupee experienced another major decline, as its interbank exchange rate dropped by 14 paisas, taking the USD to PKR rate down to Rs284.
On Thursday, the Rupee settled at the rate of Rs284.12 after witnessing an increase of 2 paisas at the end of the day in interbank trading.
Interbank closing #ExchangeRate for today https://t.co/5eL3nQMg9J#SBPExchangeRate pic.twitter.com/3V09HKq7rm
— SBP (@StateBank_Pak) December 7, 2023
In the open market, the American currency remained stable at Rs285 for selling and Rs282 for buying.
On Wednesday, the Dollar settled at a rate of Rs284.14 after registering a decrease in value by 28 paisas against the Rupee in interbank trading.
Interbank closing #ExchangeRate for today https://t.co/7FuOC7AZu3#SBPExchangeRate pic.twitter.com/hJsyp4r52s
— SBP (@StateBank_Pak) December 6, 2023
In the open market also, the Greenback lost 25 paisas against the local unit and reached Rs285.
Also Read: US dollar loses ground against Pakistani Rupee in interbank trade
Meanwhile, as per forex traders, the recent IMF standby agreement with Pakistan and the ECP announcement of the general elections on apex court directions gave a boost to investors' confidence in the market.
KSE-100 index crosses 64,000 milestone
On Thursday, the the Pakistan Stock Exchange (PSX) 100-index closed at a historic level, as it saw trading of around 1.31 billion shares worth Rs37 billion after a hiatus of 2.5 years.
The stock exchange saw an increase of 1,000 points twice during the day. The KSE-100 index closed at 64,718 points for the first time in history after witnessing an increase of 800 points
Witnessing another bullish trend, the Pakistan Stock Exchange (PSX) 100-index gained 350 points on Thursday, and crossed another historic milestone of 64,259 during the morning's trading session.
