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Pakistan Stock Exchange touches highest level in 6 years, crossing benchmark of 50,000 points

12:32 PM | 17 Oct, 2023
Pakistan Stock Exchange touches highest level in 6 years, crossing benchmark of 50,000 points
Source: File Photo

KARACHI – Pakistan Stock Exchange on Tuesday crossed 50,000 points, the highest level it has crossed in six years, with experts linking bullish sentiments to economic recovery.

Pakistan stock market continued its upward momentum and crossed the benchmark of 50,000 points after a gap of six and years and five months. 

At the PSX, the benchmark Karachi Stock Exchange (KSE) 100 Index soared by 192.69 to 50,324 points.

Money market experts link the PSX performance with PKR appreciation while a massive slash in petroleum prices and a recent positive economic outlook report by the International Monetary Fund (IMF).

Meanwhile, US Dollar is around a month low against rupee and it hovers around Rs275.75.

Last month, rupee slid to 307.1 in the inter-bank market, but authorities continued a crackdown against smuggling and controls on the Exchange Companies (ECs) sector.

With administrative measures introduced by the central bank, Pakistan started a crackdown on money market and so far 9 exchange companies faced suspension over regulatory violations.

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Pakistani rupee sees marginal decline against US Dollar, Euro, Dirham, & Riyal; check forex rates

Pakistani rupee witnessed marginal losses against US dollar, and other currencies in the open market.

Dollar Rate in Pakistan Today

On Wednesday, the dollar was being quoted at 285.6 for selling and 288.65 for buying purposes.

Euro price stands at 312 for buying and 315 for selling. British Pound rate stands at 360 for buying, and 363 for selling.

UAE Dirham AED stands at 78.25 whereas the Saudi Riyal also witnessed fall and new price stands at 76.25.

Today's currency exchange rates in Pakistan - 29 November 2023

Currency Symbol Buying Selling
US Dollar ‎USD 285.6  288.65 
Euro EUR 312  315 
UK Pound Sterling GBP 360  363
U.A.E Dirham AED 78.25  79
Saudi Riyal SAR 76.25 77.25
Australian Dollar AUD 187.2 189
Bahrain Dinar BHD 750.11 758.11
Canadian Dollar CAD 209 211
China Yuan CNY 39.58 39.98
Danish Krone DKK 41.38 41.78
Hong Kong Dollar HKD 36.24 36.59
Indian Rupee INR 3.39 3.5
Japanese Yen JPY 1.55 1.63
Kuwaiti Dinar KWD 914.36 923.36
Malaysian Ringgit MYR 60.38 60.98
New Zealand Dollar NZD 173.44 175.44
Norwegians Krone NOK 26.25 26.55
Omani Riyal OMR 741.26 749.26
Qatari Riyal ‎QAR 77.63 78.33
Singapore Dollar SGD 211 213
Swedish Korona SEK 26.93 27.23
Swiss Franc CHF 320.1 322.6
Thai Bhat THB 8.01 8.16

Gold rates see big increase in Pakistan; Check today gold price here

KARACHI – The gold price moved up down in the local market in line with massive increase in international market.

Gold Rates in Pakistan Today - 29 November 2023

On Wednesday, the single tola of 24 Karat gold was available at Rs218,000, and the price for 10-gram gold saw an increase of Rs943 to reach Rs186,900.

Meanwhile, the 22 Karat Gold price stands at Rs199,830, 21 karat rate for each tola is Rs190,750 and 18k gold rate hoveres around Rs163,500.00.

In international market, the price of precious metal went up by $29 to settle at $2,044 per ounce.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 218,000 PKR 2,610
Karachi PKR 218,000 PKR 2,610
Islamabad PKR 218,000 PKR 2,610
Peshawar PKR 218,000 PKR 2,610
Quetta PKR 218,000 PKR 2,610
Sialkot PKR 218,000 PKR 2,610
Attock PKR 218,000 PKR 2,610
Gujranwala PKR 218,000 PKR 2,610
Jehlum PKR 218,000 PKR 2,610
Multan PKR 218,000 PKR 2,610
Bahawalpur PKR 218,000 PKR 2,610
Gujrat PKR 218,000 PKR 2,610
Nawabshah PKR 218,000 PKR 2,610
Chakwal PKR 218,000 PKR 2,610
Hyderabad PKR 218,000 PKR 2,610
Nowshehra PKR 218,000 PKR 2,610
Sargodha PKR 218,000 PKR 2,610
Faisalabad PKR 218,000 PKR 2,610
Mirpur PKR 218,000 PKR 2,610

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