The Pakistani rupee saw a slight recovery in the interbank market on Thursday, following the announcement of the deal with the International Monetary Fund (IMF).
The value of the US dollar fell by 25 paisas, bringing the exchange rate down to Rs277.60 in the interbank market.
Market analysts attributed the dip in the dollar's value to positive market sentiment driven by the IMF deal, which has improved investor confidence in the country's economic stability.
On the other hand, the Pakistan Stock Exchange surged to an all-time high on Thursday, driven by positive market sentiment following the approval of the International Monetary Fund (IMF) loan program. The market continued its upward momentum, with the index hitting a peak of 83,000 points at one stage. This marks the highest point the stock market has ever reached.
The benchmark KSE-100 Index recorded a sharp rise of 450 points, reaching a record level of 82,700 points during the trading session.
The IMF’s approval of the loan program has been seen as a major boost for the country’s financial health, contributing to a surge in trading activity and an increase of over 600 points in the stock market at the start of trading on Thursday. With an increase of 635 points in the KSE100 Index, the stock market reached a record of 82,900 points.
