The Pakistani rupee is under increasing pressure as the US dollar’s value rises in the currency market.
Currency dealers report that at the opening of business today, the value of the dollar rose by 9 paisas, making the exchange rate Rs278.60.
This increase is in line with an upward trend that has been steady during the current workweek. The dollar gained 10 paise vs the rupee just yesterday, underscoring the continuous decline of the local currency.
The Pakistan Stock Exchange, on the other hand, is undergoing volatility. There has been a modest uptick in the benchmark KSE-100 Index, which has moved up 57 points to 79,898 points. This pattern suggests that despite currency volatility, the stock market has had mixed results.On Wednesday, however, federal Finance Minister Muhammad Aurangzeb disclosed that talks for more loans are still in progress with the International Monetary Fund (IMF), emphasizing that the talks will be centered around progressing economic reforms.
