PSX witnesses bullish trend, gains 126 points
Even the downgraded rating by credit ratings agency Moody’s couldn’t stop the Pakistani Rupee from standing firm against the US dollar for eleventh consecutive day on Monday as it trades below Rs219 in the interbank market.
This means that the cost of a US dollar fell from Rs219.92 at the close on Friday to Rs219 on Monday.
The value of the US dollar started losing pace against the rupee since September 23, 2022, after having reached a high of Rs239.71.
The 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Monday, gaining 126.39 points, a positive change of 0.30 percent, closing at 42,211.64 points against 42,085.25 points on the last working day.—APP