US dollar registers fresh gains against Rupee by 18 paisa

US dollar hits double century in inter-bank trading

KARACHI: The US dollar made fresh gains against Pakistani Rupee in interbank and open market on Monday.
In Interbank, Pakistani rupee became cheaper by 18 paisa, after which the new value of the US currency closed at Rs156.35.
Likewise, in the open market, the value of the Pakistani rupee fell 20 paisa and was closed at Rs156.60.
Earlier, the Pakistan Stock Exchange (PSX) witnessed an upward trend in the outgoing week with the benchmark KSE-100 index gaining 636 points and settling at 32,070 points.
With a significant average trading volume before closing on Friday, PSX shares rose by Rs80 billion.
According to analysts, financial firms made such investments in stocks due to lower prices of shares of different companies registered with the PSX.
According to stock market analysts, despite recent simmering Pak-India tensions and the current uncertain political situation in the country, investors have shown interest in the stock market due to a likely fall in interest rates.
Earlier, economists were of the view that since the passage of the financial budget for the fiscal year 2019-20, the stringent policies would reflect themselves in what they termed “the downfall of the stock market.”


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