The interbank rate fell below Rs 270 and the open rate fell to Rs 273. Photo: File
Karachi: The dollar remained on the back foot during weekly trading on hopes of a revival of the IMF program.
The acceptance of the terms required by the IMF and the final negotiations created an atmosphere of hope, resulting in the Pakistani rupee depreciating by 2.63 percent against the dollar during the five-day trade.
During the weekly trade, the value of dollar, pound and euro declined in both foreign exchange markets, the interbank rate of the dollar fell below Rs 270 while the open rate fell to the level of Rs 273.
During the weekly trading, the value of the dollar in the interbank market decreased by 7.29 rupees to close at the level of 269.28 rupees, while the value of the dollar decreased by 10 rupees to close at the level of 273 rupees in the open market.
Apart from this, on the hope of restoring the IMF program, the Pakistan stock market was booming last week, the business graph continued to rise due to the investment of domestic and foreign investors, the shares of the oil and gas refinery banking sector were the center of attention.
The Hundred Index crossed the psychological threshold of 41,000 points during the weekly trade, the announcement of new taxes also led to a decline in the week-end session, which caused the index to fall back to the level of 42,000 points restored the day before.
There was a boom in the first 4 sessions of the weekly business and a slump in the last session, due to the overall boom, the value of shares increased by 2 trillion 7 billion 61 crore 22 lakh 12 thousand 955 rupees, which also increased the total capital to 65 trillion 59 billion 85 crore 42 lakh 93 thousand 282 rupees.
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