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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.

Daily Pakistan Global Web Desk

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Pakistani rupee rate against US Dollar, Euro, Pound, Riyal - Check 14 April forex rates

Pakistani currency remains unchanged against US dollar and other currencies in open market on April 14, 2024.

US Dollar rate in Pakistan

On Sunday, the US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 14 April 2024

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 299.95 302.9
UK Pound Sterling GBP 349.5 353
U.A.E Dirham AED 75.45
 
76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86
 
1.94
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76

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