Dollar Declines as Pakistan Stock Exchange Experiences Bullish Trend
In the foreign exchange market, the value of the US dollar saw a slight decline, while the Pakistan Stock Exchange (PSX) experienced a significant bullish trend.
Dollar Weakens in Interbank Market
On the fourth day of the business week, the dollar became cheaper by 10 paisa in the interbank market, bringing its value down to 278.60 rupees. This decrease in the dollar’s value comes amid fluctuating currency trends observed in recent weeks.
Stock Market Surges with 770-Point Increase
Meanwhile, the Pakistan Stock Exchange started the day on a positive note. The 100 Index saw a substantial increase of 770 points, with the index trading at 78,647 points. This marks a significant recovery, as the index had closed below 78,000 points on the last trading day of the previous week.
The surge in the stock market reflects growing investor confidence and optimism in the country’s economic prospects.