KARACHI – Pakistani economy shows signs of stability after turmoil as theStock Exchange recovers and the Pakistani Rupee bounces back against the USdollar.
The Pakistan Stock Exchange (PSX) witnessed an upward trend in the outgoingweek with the benchmark KSE-100 index gaining 636 points and settling at32,070 points.
With a significant average trading volume before closing on Friday, PSXshares rose by Rs80 billion.
According to analysts, financial firms made such investments in stocks dueto lower prices of shares of different companies registered with the PSX.
According to stock market analysts, despite recent simmering Pak-Indiatensions and the current uncertain political situation in the country,investors have shown interest in the stock market due to a likely fall ininterest rates.——————————
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On the other hand, the Pakistani rupee traded flat and closed at Rs156.40against the US dollar on Friday.
Likewise, in the interbank market, the rupee maintained its strength atRs156.17 against the greenback with slight fluctuation in the whole week.
In the last two months, the local currency has recovered significantlyagainst the greenback in the interbank market. The open market has followedthe similar trend.
