Dollar, Psx, Economy, İnflation, Sbp, İmports, Exports, Imf, World Bank, Government

Dollar, Psx

Rupee gains 7 paisa against dollar; PSX gains 239 points

Rupee gains 7 paisa against dollar; PSX gains 239 points

10.10.2019

Rupee gains 7 paisa against dollar ; PSX gains 239 points

The IMF had asked Pakistan to end state control of the rupee and let the currency move freely.

Currency traders were of the view that the increasing inflows of remittance in have supported the local rupee in the market.

The IMF asked Pakistan to end state control of the rupee and let the currency move freely to find its equilibrium against the US dollar.

The stringent conditions – on which the global moneylender has formally approved the bailout package of $6 billion for Pakistan – seemed to have exerted more pressure on the local currency.

Besides increased demand of the greenback in the local market, they had termed ‘balance of payments deficit’ as the main reason in the recent hike in the value of the US dollar.

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.

مزید پڑھ: Dunya News

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