Latest News

Rupee registers gain against dollar

The rupee registers a gain against the dollar following Dar’s imminent return to the country.

After suffering consecutive losses during several previous sessions, the local kicked off the week’s trading on a positive note.

The value of the US dollar dropped by Rs3.65 in the interbank market Monday morning hours.

According to the State Bank of Pakistan (SBP), in the interbank market, the rupee gained 2.63 against the dollar to reach 237.02,  up in value from the previous session’s close of 239.65.

In the past few weeks, the difference between interbank and open bank rates had grown to over Rs10.

It seems like the market is responding to PML-N leader Ishaq Dar’s appointment as the finance minister replacing Miftah Ismail.

The reports of Ishaq Dar’s return also made an impact on the Pakistan Stock Exchange (PSX) with the benchmark KSE-100 index closing 531.33 points or 1.29% higher at 41151.54.

Saman Siddiqui

Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.

Related Articles

Leave a Reply

Your email address will not be published.

sixteen − 15 =

Back to top button