PKR continues upward trend against USD
- By Web Desk -
- Jul 27, 2023
KARACHI: The Pakistani rupee continued to post gains against the greenback on Thursday following the SBP decision to lift import limits on US dollars.
The State Bank of Pakistan (SBP) yesterday allowed exchange companies to import cash dollars, if needed, against the value of their export consignments.
According to the central bank, the rupee gained Rs0.59 against the greenback on Wednesday to close at Rs286.45.
Meanwhile, the US dollar is being sold at Rs291 in the open market.
Interbank closing #ExchangeRate for today https://t.co/0RUyUEuVMz#SBPExchangeRate pic.twitter.com/0dr6w0g5ak
— SBP (@StateBank_Pak) July 27, 2023
Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index jumped past the 47,000 mark on Thursday to a 21-month high after gaining 400 points.
The market saw an increase of 421.96 points at 12:36am, rising from Wednesday’s closing of 46,779.74 points to reach 47,104.48 points.
According to Arif Habib Corporation, the KSE-100 index had crossed the 47,000 mark after 21 months.