KARACHI – The dollar was traded at Rs Rs150.70 after witnessing a 75-paisadecrease in the interbank market on Friday.
In the open market, the dollar was sold at Rs151.70 after witnessing adecrease of 80 paisas.
On the other hand, Pakistan Stock Market stabilized and 100 index crossed35,600. A total increase of 122 points was observed on Thursday.
On Wednesday, 100 index had gained 1,095 points. The US dollar rate hadincreased by Rs2.35, reaching all-time high of Rs152 in the interbankmarket. On Monday, it was increased by Rs1.63 and was being sold atRs149.50 when the business closed.
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On Thursday, the dollar that valued at Rs141.5 climbed roughly Rs6.51 andreached approximately Rs148 in the interbank market during trading beforeclosing at Rs147.10.
After the approval of the bailout package, the dollar price is skyrocketingwhile the stock market is witnessing a decline daily. The action taken byPrime Minister Imran Khan has started yielding results. During a meetingwith a delegation of the Exchange Companies Association on Wednesday, theprime minister had ordered action against the companies selling the dollarat a high rate.
