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PSX touches record high, closes at 39,020 points

09:47 PM | 12 Jul, 2016
PSX touches record high, closes at 39,020 points
KARACHI (Web Desk) - Pakistan stocks rallied to a record closing high on the second day of the week.

The benchmark 100-share index of the Pakistan Stock Exchange ended 1.70 percent higher, or 652.27 points, at 39,020.23, a record high close.

Among gainers, K-Eletric was the volume leader with 39 million shares traded.

“Bullish momentum was witnessed with supplementary supportive news of tax rebate benefiting shariah-compliant companies,” dealers said.

The federal government has introduced a two percent tax rebate for shariah-compliant listed companies through the Finance Act 2016, the News International daily of the Jung Group reported on its website.

The rebate came after a suggestion by the Securities and Exchange Commission of Pakistan as part of reforms to develop the Islamic capital market, it said.

The rupee ended flat at 104.79/104.84 against the dollar, compared with Monday’s close of 104.79/104.84.

Overnight rates in the money market fell to 5.60 percent from Monday’s close of 6.25 percent.

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Currency Rates in Pakistan Today - Pakistani rupee to US Dollar, Euro, Pound, Dirham, and Riyal - 19 April 2024

Pakistani currency saw minor adjustment against global currencies on April 19, 2024. US dollar was being quoted at 277.4 for buying and 280.4 for selling.

Euro comes down to 293 for buying and 296 for selling while British Pound stands at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.2 and Saudi Riyal's new rates was at 73.30.

Today’s currency exchange rates in Pakistan - 19 April 2024

Currency Symbol Buying Selling
US Dollar ‎USD 277.4 280.4
Euro EUR 293 296
UK Pound Sterling GBP 342.25 345.65
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.09 748.09
Canadian Dollar CAD 201 203
China Yuan CNY 38.44 38.84
Danish Krone DKK 39.69 40.09
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 902.64 911.64
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.31 25.61
Omani Riyal OMR 722.87 730.87
Qatari Riyal ‎QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.08 307.58
Thai Bhat THB 7.56 7.71

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