PKR strengthens by Rs2.49 against dollar in interbank

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Shares on PSX slide 421 points

The rupee gained Rs2.49 against the dollar in the interbank market on Thursday. The PKR closed at Rs229.63 after appreciating 1.08 per cent from yesterday close of Rs232.12, according to the State Bank of Pakistan.

Thursday was the fifth consecutive session that the rupee has recovered after falling close to an all-time low of Rs239.94 on Sept 22. It has been on an uptrend since Friday, with its value improving by Rs10.08 or 4.2pc over the last four sessions.

Shares at the Pakistan Stock Exchange (PSX) closed in the red on Thursday, with analysts saying investor sentiment was weighed down by news of the country’s largest bank, Habib Bank Limited (HBL), facing secondary liabilities in a terror financing case in the United States.

The benchmark KSE-100 index closed at 41,013.86 points, down 421.27 points, or 1.02 per cent.

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