PKR loses 3 paisa against USD; PSX 100-index gains 842 points 

KARACHI: The Pakistani rupee (PKR) took a slight dip against the US dollar (USD), depreciating by -0.01 per cent in the interbank market at the end of the session on Friday.

According to the State Bank of Pakistan (SBP), by the end of the session, the local currency was trading at PKR 278.75 per USD, reflecting a loss of three paisa against the dollar.

The previous day interbank trading session was closed at PKR 278.72 per USD.

Mettis Global noted that in comparison to major currencies, PKR deteriorated 1.90 rupees or 0.66% against the Euro, closing at 291.62 compared to the previous value of 289.72.

Likewise, PKR decreased by 2.52 rupees or 0.73% to 345.29 against the British Pound, compared to 342.77 a day ago.

Meanwhile, the Pakistan Stock Exchange (PSX) witnessed a significant rally as the 100-index gained 842 points, closing at 114,880 points on Friday.  

The market, which ended at 114,037 points the previous day, recorded its highest intraday level at 115,779 points during today’s trading session. 

The PSX had opened in the green on the last trading day as the benchmark KSE-100 index rose by 431.38 points compared to its previous day’s close of 114,037.79. Within the first 17 minutes of trading, the index reached 114,469.17, with the trade volume standing at 1,790,079.

The PSX extended its gains and rose by over 880 points around 9:33 AM to reach 114,917.91, with the volume standing at 26,084,534. A sudden jump was witnessed around 10:15 AM when the KSE-100 index surged by 1,007 points to 115,045.34.

By 10:30 AM on Friday, the day’s range stood at 114,383.16–115,143.56.