Rupee continues winning streak against USD

F.P. Report

ISLAMABAD: The Rupee on Monday gained 16 paisa against the US dollar in the interbank trading and closed at Rs 279.20 against the previous day’s closing of Rs 279.36.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.4 and Rs 282.3, respectively.

The price of the Euro decreased by 23 paisa to close at Rs 302.31 against the last day’s closing of Rs 302.54, according to the State Bank of Pakistan (SBP).

The Japanese Yen remained unchanged to close at Rs185, whereas a decrease of 08 paisa was witnessed in the exchange rate of the British Pound, which was traded at Rs 353.87 compared to the last closing of Rs 353.95.

The exchange rates of the Emirates Dirham and the Saudi Riyal decreased by 04 paisa each to close at Rs 76.01 and Rs 74.44 respectively.

Pakistan Stock Exchange (PSX) experienced a week of positive trends and notable growth in business activities on the hopes of political stability after general elections.

At the close of the business week, the KSE-100 index stood at 62,815 points, marking a gain of 2,943 points or (4.92%).

During the week, the KSE-100 index reached its peak at an impressive 62,815 points, reflecting the confidence of investors in the hopes of political stability in Pakistan after the February 8 polls.

Trading during the week the market witnessed a volume of total 1.69 billion shares worth Rs63.50 bln were transitioned.

Moreover, the market capitalization witnessed a notable increase of Rs364 billion during the week, reaching a total value of Rs 9,081 billion from Rs8,717 billion.