In a recent development in the financial market, the US dollar experienced a slight increase in its value against the Pakistani Rupee in the interbank market, reported 24NewsHD TV channel.
As the business day commenced, the dollar saw a surge of 10 paisas, pushing its value to 279 rupees and 45 paisas. This is a slight increase from the previous day’s closing value of 279 rupees and 35 paisas.
Meanwhile, the Pakistan Stock Exchange (PSX) witnessed a downturn later in the morning.
The PSX 100 index, a benchmark used to gauge the performance of the market, dropped by 162 points, bringing it down to 65,493 from the previous day’s closing of 65,656 points.
This fluctuation in the financial market indicates the dynamic nature of economic activities.
The rise in the dollar’s value and the fall in the PSX index are events that investors, businesses, and policymakers closely monitor as they can have significant implications for the economy.