Pakistani Rupee makes massive gains against Euro and UK Pound
Shares
According to the details, in the open market, the US dollar has become the cheapest, reaching the lowest level of 277 rupees after a currency devaluation. Since the economic crisis, the US dollar in the open market has become 53 rupees cheaper, currently at 330 rupees.
Other currencies have also seen a decrease, with the Euro at 296 rupees (down 1 rupee), British Pound at 344 rupees (down 3 rupees), UAE Dirham at 76.55 rupees (55 paise decrease), while the Saudi Riyal remains steady at 74 rupees and 20 paise.
On the other hand, the Pakistani stock market is experiencing significant growth. The Pakistan Stock Exchange 100 Index reached its highest level in the past 6 years after recording a significant increase on Friday.
Government measures and improvements in the value of the rupee have piqued the interest of investors in the stock market.
The 100 Index has seen a rapid increase of 721 points, reaching a level of 49,493, which is a significant improvement from its level of 49,000 on July 9, 2017. The 100 Index has achieved a 1.48% increase and returned to the 49,493 level after six years.
