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The Pakistani rupee (PKR) saw a small gain against the U.S. dollar (USD) on Tuesday, rising by 0.07 percent during early trading in the interbank market. The local currency is now valued at Rs277.45, reflecting an increase of Re0.19 against the USD.
Since the start of the current fiscal year, the rupee has appreciated by 69.89 paise, equivalent to 0.25 percent. Meanwhile, during the ongoing calendar year, it has strengthened by Rs4.22 or 1.52 percent against the greenback.
On Monday, the PKR closed at Rs277.64, according to data from the State Bank of Pakistan (SBP).
Meanwhile, The Pakistan Stock Exchange (PSX) witnessed a remarkable rally on Monday when the benchmark KSE-100 Index surged by 1,378.34 points, marking a 1.65 percent increase and reaching an all-time high of 84,910.30 points.
Tuesday, further increased these gains for the market to catapult above 85,000 points. By 11:00 AM, the index had added 650.66 more points to hover around 85,560.95 points.
This week’s bullish trend continues from the outgoing week when the index closed at 83,531.96 points. The primary push to the market came from the petroleum sector, but the growth impact was felt across most segments.
