dollar
In the city of Karachi, the interbank market witnessed a continued decline in the value of the US dollar as the new business week commenced. This resulted in a further strengthening of the Pakistani rupee.
At the beginning of the trading day on Monday, the US dollar lost 28 paise in value, bringing its exchange rate to 295 rupees and 56 paisa. Subsequently, the dollar’s depreciation against the rupee persisted, and by noon, it had dropped by 99 paise, leading to an exchange rate of 295 rupees and 85 paisa in the interbank market.
In a related development, the Pakistan Stock Exchange displayed a bullish trend at the onset of the new business week. The KSE 100 index observed an increase of 53 points, reaching a level of 45,807 points on Monday. Later in the day, it further surged by 114 points, reaching a level of 45,867 points.
Additionally, it’s noteworthy that the difference between the interbank and open rates of the dollar had decreased to a mere 0.05% in the weekly business update.
