Thursday morning witnessed a significant drop in the value of the US Dollar against the Pakistani Rupee, with the interbank exchange rate decreasing by 14 paisas. This shift brought the USD to PKR rate down to Rs284.
In the previous day’s trading on Wednesday, the Dollar had concluded at Rs284.14, experiencing a reduction in value by 28 paisas against the Rupee in interbank transactions.
Interbank closing #ExchangeRate for today https://t.co/7FuOC7AZu3#SBPExchangeRate pic.twitter.com/hJsyp4r52s
— SBP (@StateBank_Pak) December 6, 2023
In the open market, the US Dollar saw a decrease of 25 paisas against the local currency, reaching Rs285.
Simultaneously, according to forex traders, the recent IMF standby agreement with Pakistan, coupled with the Election Commission of Pakistan’s announcement of general elections following the apex court’s directives, bolstered investors’ confidence in the market.
Moreover, experiencing another surge, the Pakistan Stock Exchange (PSX) 100-index recorded a gain of 350 points on Thursday, surpassing yet another historical milestone by crossing 64,259 during the morning trading session.
