By S.M. Inam
KARACHI: The Pakistani rupee experienced a slight depreciation in the interbank market as the US dollar appreciated by 8 paisas, closing at Rs280.05 on Monday. This marks a continuation of the currency’s downward trend, as the greenback had already gained 30 paisas over the previous week, closing at Rs279.97 last Friday. The exchange rate fluctuations reflect ongoing pressures on the local currency amid external financial challenges.
On the other hand, the Pakistan Stock Exchange (PSX) started the week with strong momentum, as the benchmark KSE-100 index surged by 599 points, reaching 114,997 in early trading. The index briefly crossed the 115,000 mark, hitting an intraday high of 115,048, before settling slightly below this peak. This rally follows last week’s closing at 114,398 points, signaling renewed investor confidence. Analysts attribute the bullish trend to positive market sentiment, fueled by expectations of economic stability, improved corporate earnings, and favorable government policies.
