US Dollar Regains Momentum, Stalls Pakistani Rupee’s Recovery

US dollar halted its depreciation against the Pakistani Rupee after three days of continuous decline. On the fourth day of the business week, currency dealers reported a 10-paisa increase in the value of the dollar within the interbank market, bringing it to Rs278.55. In the open market, the dollar remains stable at Rs280.

The recent fluctuations in the dollar’s value reflect the ongoing volatility within the foreign exchange market. Despite the rupee’s initial gains earlier in the week, the dollar’s resurgence has created new challenges for the local currency.

Meanwhile, the Pakistan Stock Exchange continues to display bullish momentum, with the 100 Index climbing by 450 points to restore the 78,000-point threshold, closing at 78,444 points. This recovery in the stock market suggests investor confidence, even as the rupee faces renewed pressure.