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Pakistani Rupee Makes Progress Against the Dollar

Discover the latest financial update as the Pakistani Rupee shows positive movement against the Dollar. Stay informed on currency trends and economic shifts.

Pakistani Rupee Makes Progress Against the Dollar

The Pakistan Stock Exchange (PSX) 100-index went up by 350 points on Thursday. It reached a new record of 64,259 during the morning trading session. This is good news for investors.

On the same day, the value of the US Dollar compared to the Pakistani Rupee went down again. The interbank exchange rate dropped by 14 paisas, making the USD to PKR rate Rs284.

Yesterday, the Dollar had settled at Rs284.14 after going down by 28 paisas in interbank trading. In the open market, the Dollar lost 25 paisas and reached Rs285 against the local currency.

KSE-100 index crosses 64,000 milestone

Forex traders say that the recent agreement between Pakistan and the IMF, along with the announcement of general elections by the Election Commission of Pakistan following the directions of the apex court, has increased investors’ confidence in the market.

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