Dollar Continues to Depreciate, Pakistan Stock Exchange Surges Beyond 82,000
The value of the US dollar further decreased in the exchange market, while the Pakistan Stock Exchange (PSX) witnessed a significant rise, crossing the 82,000 mark once again.
Dollar Depreciation
At the opening of trade on Wednesday, the dollar depreciated by another 9 paise against the Pakistani rupee, bringing the exchange rate to Rs 277.60. This marks a continuing trend of the dollar weakening against the rupee in recent days.
Stock Market Surge
On the other hand, the Pakistan Stock Market experienced a surge at the start of trading. The 100-index saw an increase of 197 points, pushing the index to 82,005 points. This is a strong recovery from yesterday’s closing of 81,808 points, indicating positive market sentiment.
The Pakistan Stock Exchange has been experiencing steady growth, with investors showing confidence in the market despite ongoing economic challenges.