Dollar’s Decline Persists in Interbank and Open Markets
KARACHI: The downward trend of the dollar against the rupee continues in both the interbank and open currency exchange markets.
As the business week drew to a close, the interbank market witnessed a decrease in the dollar’s value, causing it to dip by 99 paise to 291 rupees and 78 paise at the start of the day. This decline persisted, and by noon, the dollar had fallen further by one rupee and 37 paise to reach 291 rupees and 40 paise.
Simultaneously, the open market also experienced a decrease in the dollar’s value, with the dollar slipping by one rupee to reach Rs 295 on Friday.
Bullish Trends in the Pakistan Stock Exchange
On a different note, the Pakistan Stock Exchange (PSX) is currently showing a bullish trend. Friday saw the stock market opening with a gain of 129 points, as the KSE 100 index surpassed the significant milestone of 46,000 points, settling at 46,331 points. Subsequently, the KSE 100 index concluded the first session at 46,284 points, marking an increase of 82 points in the PSX.
These financial developments reflect the dynamic nature of the Pakistani financial markets, with fluctuations in the value of the dollar and positive trends in the stock exchange making headlines.
