Karachi: The momentum of growth continues in the Pakistan Stock Exchange as the benchmark KSE-100 index reached 64,966 after a remarkable gain of 511 points. The value of the US Dollar has further decreased in the inter-bank market against the Pakistani Rupee.
According to the PSX website, around 10:30 AM, the KSE-100 index surged by 511.85 points or 0.79%, reaching 64,966. It reached its peak for the day at 65,024.93 and then slightly pulled back. It’s worth noting that yesterday (January 23), the KSE-100 index had risen by 514 points or 0.81%, reaching 64,454.
On the other hand, the trend of the Dollar’s downward spiral against PKR continued in the inter-bank market, and at the beginning of the business day on Wednesday, the Rupee strengthened further. On the third day of the business week, the inter-bank rate of the Dollar witnessed a decrease of 34 paisas, bringing the Dollar to 279 Rupees and 45 paisas.
At the close of business yesterday, the Dollar rate was locked at 279 Rupees and 79 paisas. It is noteworthy that after the enforcement of actions against illegal currency exchanges across the country, there has been a consistent trend of a decline in the value of the Dollar against the Rupee for several months.
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