Islamabad: On Monday, the greenback gained value against the local currency. According to the forex report, the dollar surged by Rs 3.79 and traded at Rs 214.74 in the interbank market. The rupee fluctuated between Rs 215 and Rs 216 in the open market. Economists are attributing the gain to recent political uncertainty in the country.
Meanwhile, the KSE-100 index also lost 550 points by 11:34 am. The benchmark index traded at 41,532 as investors are uncertain about the future of the coalition government. Some analysts said that speculations are favourable, and the rupee would soon gain value. They added that funds from IMF would also help the rupee to gain strength.
Rupee loses value in interbank market amid political uncertainty in Pakistan
PSX soars over 800 points, hits historic 96,700 milestone amid retail-driven surge
The Pakistan Stock Exchange (PSX) continued its bullish momentum on Wednesday, with the benchmark KSE-100 index climbing 847.17 points (0.88...
Karachi administration enforces ban on public gatherings amid IDEAS 2024
The Karachi administration has imposed a seven-day ban on all forms of public gatherings within the city, coinciding with the...
Senate panel questions PTA’s authority to block non-commercial VPNs
The Pakistan Telecommunication Authority (PTA) announced a strict deadline of November 30 for the registration of commercial Virtual Private Networks...
PSX surges over 500 points as investors return to equities amid improving market stability
The Pakistan Stock Exchange (PSX) experienced a robust uptick on Thursday, with the KSE-100 Index climbing over 500 points in...
The Upcut is a news platform that brings you the latest news, developments from all walks of life, from all over the world. We cover Business, news from Pakistan and rest of the world, Sports, and Entertainment. You can also read Tech Reviews and How-To Guides for simple solutions and dailylife hacks.