PKR gains Rs1.58 against dollar
After falling against the dollar for three consecutive sessions, the PKR reversed the trend on Monday.The local currency closed at Rs220.89 per dollar, up Rs1.58 or 0.72 per cent from Friday.
Exchange Companies Association of Pakistan (Ecap) General Secretary Zafar Paracha attributed the rupee’s gain to Finance Minister Ishaq Dar’s meetings with CEOs of commercial banks and heads of major exchange companies on Sunday, during which he warned smugglers to refrain from hoarding and trading dollars.
Meanwhile, the 100-index of the PSX witnessed bullish trend on Monday, gaining 124.32 points, a positive change of 0.30 percent, closing at 41,264.66 against 41,140.34 points on the last working day. A total of 97,476,761 shares were traded during the day as compared to 177,761,063 shares the previous day, whereas the price of shares stood at Rs 2.502 billion against Rs 4.656 billion on the last trading day.
