Infirm Pakistani rupee steadies a bit against US dollar


PSX loses 37 points

The infirm Pakistani rupee which has been bearing the onslaught of the aggressive US dollar for the last several trading sessions has shown some revival signs as the local unit has inched up by 40 paisa in the interbank trading on Thursday.

The foreign currency dealers said that during the morning trading activity, the Pakistani rupee fared well against the US dollar as the American currency traded at Rs239.25 by 10am, lower by 40 paisa from yesterday’s close.

On Wednesday, the US dollar came closer to skyrocketing to another historic high against the Pakistani rupee as it gained 74 paisa in the interbank trading and concluded at Rs239.65, a few paisa away from hitting a record level against the Pakistani currency.

Meanwhile, the 100-index of the Pakistan Stock Exchange (PSX) lost 37.63 points on Thursday, a negative change of 0.09 percent, closing at 40,927.95 against 40,965.58 points on the last working day.

A total of 190,091,596 shares were traded during the day compared to 170,416,593 shares the previous day, whereas the price of shares stood at Rs.6.322 billion against Rs. 4.827 billion on the last trading day.

As many as 328 companies transacted their shares in the stock market, 106 of them recorded gain and 203 sustained losses, whereas the share price of 19 companies remained unchanged.

The three top trading companies were WorldCall Telecom with 19,954,000 shares at Rs.1.14 per share, Cnergyico PK with 18,598,006 shares at Rs.4.86 per share and TRG Pak Ltd with 17,567,887 shares at Rs.119.72 per share.

Sanofi-Aventis witnessed a maximum increase of Rs.79 per share price, closing at Rs.1,229 whereas the runner up was Sapphire Fiber with Rs.71.93 rise in per share price to Rs.1,228.50.

Rafhan Maize witnessed maximum decrease of Rs.595 per share closing at Rs.9,055 followed by Hallmark Company with Rs.13.50 decline to close at Rs.166.50.


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