KARACHI – The Pakistani rupee recorded 0.02 per cent gain against the US dollar in the inter-bank market on Wednesday.
At close, the local currency increased by Re0.06 against US dollar, settling at 278.04. Last day, the rupee registered marginal gain and settled at 278.1 against the US dollar.
Globally, the US dollar strengthened against other currencies in the wake of more strong US economic data. The US dollar index is up 3 per cent for the quarter to 104.4. Sterling was steady at $1.2621 and was broadly steady for the quarter too.
Meanwhile, PSX saw bullish trend as the KSE-100 index jumped past 66,000 points level after gaining 500 points on Wednesday.
During the intra-day trading, the KSE-100 climbed by 487.25 points to reach 66,392.52 points till 12:58 pm and it is expected to witness more surge by the closing of the market. Major sector to record buying during intra-day trading include automobile, cement, commercial banks, and refinery.
The recent increase shows positive sentiments of investors as the government vigorously pursuing the policy of privatization. Pakistan is also expected to secure $1.1 billion from the International Monetary Fund (IMF) as both sides recently reached staff-level agreement, sparking positive sentiments among investors.
