According to reports from Karachi’s financial circles, a small but noticeable fluctuation in the value of the US dollar piqued the interest of traders and investors alike.
At the close on Wednesday, the Pakistani rupee was up 16 paisas against the US dollar in the interbank market. The local currency finished at Rs279.12, according to the State Bank of Pakistan (SBP).
Earlier, while the American currency increased by 8 paisas at the start of the day’s session to trade at Rs279.28, it later fell 28 paisas in the interbank market to trade at Rs279.
The situation in the open market painted a different picture. The Greenback lost 24 paisas, lowering its worth to Rs282.4.
This fluctuation comes as the Pakistan Stock Exchange (PSX) witnessed a bullish trend amid the news of a National Assembly session being called for the oath-taking of newly elected lawmakers and formation of a six-party coalition government. A review by the IMF is also pending for the disbursement of the last tranche of a loan programme between the two side.
