KARACHI – Pakistani rupee witnessed upward trajectory against the US dollar, as the local currency moves up during the opening hours of trading in the inter-bank market.
During the intra-day trading on the first day of the week, the rupee jumped by Rs0.67 and is being traded at 284.30.
Last week, the local unit saw improvement as it appreciated Rs0.40 to settle at 284.97 against the US dollar in the inter-bank market.
Rupee moved up for third consecutive week as staff-level agreement (SLA) between Pakistan and the International Monetary Fund (IMF) on first review of the $3 billion Stand-by Arrangement (SBA) changed the market sentiment.
In a similar development, Pakistan Stock Exchange (PSX) has seen a massive rise of nearly 20 percent and the highest investment in over five years depicts the country’s economic revival.
KSE-100 index surpassed 62,000 points milestone for the first time in history with another push of 770 points, reaching 62,461 points.
