The Pakistani rupee as part of its recent upward trend was strengthened by Rs1.05 in the interbank market on Wednesday.
The rupee appreciated by 0.36% against the US Dollar from yesterday’s close of Rs289.8 as the greenback on Wednesday was closed at Rs288.75 in the interbank market, according to the State Bank of Pakistan (SBP).
In the open market, the US dollar closed at Rs290 after it fell by one rupee against the local currency. It is pertinent to know that following the government’s nationwide crackdown against the hoarding and smuggling of foreign currencies, the greenback has shed its value by more than Rs18.
Meanwhile the 100-index of the Pakistan Stock Exchange (PSX) turned around to bullish trend on Wednesday and gained 87.38 points, showing positive change of 0.19 per cent, closing at 46,365.04 points against 46,277.66 points the previous day. A total of 177,497,178 shares valuing Rs.6.928 billion were traded during the day as compared to 259,046,624 shares valuing Rs. 6.688 billion the previous day.
