Follow Us on Google News
The Pakistan Stock Exchange broke another record on Wednesday by crossing the 61,000 point mark.
The 100-index gained 470 points in the opening hours of trading on Wednesday to reach 61,200 points.
On Tuesday, the PSX had gained 918 points to reach 60,730 points, its highest-ever mark.
On the other hand, the United States dollar continued to lose value against the rupee, falling by Rs0.52 in the opening hours of trading.
The change took the value of the US dollar to Rs285 in the interbank market.
On Tuesday, the US dollar had fallen by Rs0.12 to go from Rs285.64 to Rs285.52.
The value of the rupee has been steadily gaining strength since Pakistan finalized its first review with the International Monetary Fund under the stand-by agreement. The rupee has also gained strength from the government’s efforts to clamp down on hoarding and smuggling of foreign currency.
