In Karachi, the US dollar’s value continued to decline against the Pakistani rupee across both the interbank and open markets. This downward trend, which has persisted for several weeks, carried over into the new business week commencing on Monday.
In the interbank market, the US dollar initially dropped by one rupee and 93 paisa at the opening of trading, reaching a rate of 301.93 Pakistani rupees. Subsequently, it further decreased by 2 rupees and 39 paise, settling at 300.50 Pakistani rupees.
Simultaneously, the open market also experienced a substantial decline in the US dollar’s worth, with a depreciation of 3.50 rupees, resulting in an exchange rate of 300.50 Pakistani rupees.
Meanwhile, the Pakistan Stock Exchange started the day on a positive note, with the KSE 100 index gaining 109 points and reaching 46,123 points. However, the stock market later witnessed a bearish trend, causing the PSX to lose 74 points and bringing the index down to 45,939 points.
