PSX hits new high as bulls push KSE-100 above 61,000

10:48 AM | 29 Nov, 2023
PSX hits new high as bulls push KSE-100 above 61,000
Source: File Photo

KARACHI – Pakistan Stock Exchange (PSX) advanced its upward march and shattered all records in outgoing week as it climbed over 470 points as investors continue to buy amid encouraging economic outlook.

On Wednesday, Stock Exchange surapssed all previous record, crossing 61,000 point mark.

The 100-index gained 470 points in the opening hours of trading to reach 61,200 points.

In the last session, the Pakistan Stock Exchange gained 918 points to reach 60,730 points, its highest ever mark.

The market rallied positively today and the gains are being attributed to successful first review with the International Monetary Fund (IMF).

Experts also linked the bullish trend with anticipation of rate cut, given the expected slowdown in inflation over the next few months. Furthermore, clarity on upcoming elections was also contributing to this trend.

The incumbent caretaker setup has also taken stern measures which are \supporting the ongoing rally, Pakistani currency however continues to remain under pressure in wake of import payments.

Daily Pakistan Global Web Desk


Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 20 Feb 2024

Pakistani currency remained largely stable against US dollar and other currencies in the open market on February 20, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.05 for buying and 282.1 for selling.

On Tuesday, Euro stands at 301 for buying and 304 for selling while British Pound rate stands at 352.4 for buying, and 355.4 for selling.

UAE Dirham AED hovers at 76.55 whereas the Saudi Riyal saw slight increase, with new rates at 74.2.

Today’s currency exchange rates in Pakistan - 20 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.05 282.1
Euro EUR 301 304
UK Pound Sterling GBP 352.4 355.4
U.A.E Dirham AED 76.55 77.25
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 180 182
Bahrain Dinar BHD 743.12 751.12
Canadian Dollar CAD 206.5 208.5
China Yuan CNY 38.84 39.24
Danish Krone DKK 40.24 40.64
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.48 3.59
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 906.33 915.33
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 170.1 172.1
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.75 733.75
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 207
Swedish Korona SEK 26.85 27.15
Swiss Franc CHF 315.64 318.14
Thai Bhat THB 7.93 8.08


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