Pakistan Stock Exchange Sees Strong Surge; Rupee Gains Stability Against Dollar
The Pakistan Stock Exchange (PSX) experienced a robust upswing during the first day of the business week, while the value of the Pakistani rupee also stabilized against the US dollar in the inter-bank market.
Significant Boom in Stock Market
The business week began with a positive trend at the Pakistan Stock Market, which saw a significant surge after a period of stagnation. The 100 Index recorded a notable increase of 535 points, propelling the index to 85,785 points. This rise indicates renewed investor confidence and a strong market recovery.
Rupee Stabilizes Against Dollar
Meanwhile, the Pakistani rupee gained stability against the US dollar. The dollar depreciated by 11 paise in the inter-bank market, bringing its value down to Rs 277.50. This slight drop continues the recent trend of the rupee strengthening, offering relief to the economy.
Positive Market Outlook
The combined effect of a booming stock market and a stabilizing rupee suggests a more positive economic outlook for Pakistan, with both indicators reflecting an improvement in the country’s financial stability.