Pakistani Rupee Strengthens as Dollar Weakens; Stock Market Sees Positive Trend
The value of the Pakistani rupee improved as the dollar became cheaper in the foreign exchange market, coinciding with a positive start in the Pakistan Stock Exchange.
Dollar Declines in Early Trading
At the opening of business on Monday, the dollar fell by 10 paisa, bringing its value down to Rs 278.44 in the interbank market. This marks a slight improvement from the end of the last business week, where the dollar closed at Rs 278.54.
Stock Market Gains Momentum
In a positive development for the Pakistan Stock Exchange, the 100 index recorded an increase of 276 points, reaching 78,322 points. This follows a decrease of 60 points at the close of the previous business week, where the index stood at 78,045 points.
These developments suggest a positive outlook for the country’s financial markets, driven by the strengthening of the rupee and a renewed investor confidence in the stock exchange.