Islamabad: The Pakistani Rupee (PKR) experienced a slight decline of 07 paisa against the USD dollar during interbank trading on Monday, closing at Rs 279.26 compared to the previous day's closing of Rs 279.19.
However, the Forex Association of Pakistan (FAP) reported that the buying and selling rates of the dollar in the open market were recorded at Rs 279.2 and Rs 282.1, respectively.
According to the State Bank of Pakistan (SBP), the price of the Euro rose by Rs 1.04, closing at Rs 303.09 against the previous day’s closing of Rs 302.05. The Japanese Yen remained stable at Rs 185, while the British Pound saw an increase of Rs 1.15, reaching Rs 354.02 compared to the previous closing of Rs 352.87.
Meanwhile, the exchange rates of the Emirates Dirham and the Saudi Riyal increased by 02 paisa each, closing at Rs 76.03 and Rs 74.46, respectively.
On a positive note, the Pakistan Stock Exchange (PSX) showed favorable trends driven by expectations of political stability. The PSX benchmark 100 index displayed a bullish trend, gaining 681 points to surpass the 66,000 mark on the first day of the business week.
As of 9:45 am, the KSE-100 index was trading at 66,006 points. Market experts attribute this trend to investor confidence in the market amid hopes of political stability.
