The interbank rate of the dollar fell below 263 rupees. Photo: File
Karachi: The dollar remained in reverse gear for the second week in a row on the prospect of a staff-level agreement with the IMF.
The rupee began to strengthen due to the possible early recovery of the IMF program by increasing the price of mini-budget petroleum products, the rupee depreciated by 2.63% against the dollar in the five days of the week, thus the rupee depreciated by 4.97% against the dollar in the last 11 days. happened
During the weekly trade, the value of the dollar, pound and euro declined in both foreign exchange markets, the interbank rate of the dollar fell below Rs 263, while the open rate fell to the level of Rs 268.
During the weekly trading, the value of the dollar in the interbank market decreased by Rs. 6.47 to close at the level of Rs. 262.81, while the value of the dollar decreased by Rs. 5 to close at the level of Rs. 268 in the open market.
In addition, factors such as fears of a dangerous rise in inflation due to the government’s impeding implementation of IMF conditions affected business activity in Pakistan stocks last week and continued bearish clouds, despite the dollar depreciating throughout the week. Offloading of shares was preferred by investors.
During the weekly trade, the index crossed the psychological limit of 42000 points and fell again due to volatility, bullish trend in one session, bearish trend in one session, overall bearishness of investors 1 trillion 29 billion 87 crore 60 lakh 53 thousand 282 Rupees sunk due to which the total capital also decreased to 64 trillion 29 billion 97 crore 82 lakh 40 thousand 164 rupees.
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