The Pakistani rupee showed a slight recovery in the interbank market on Thursday after the announcement of the agreement with the International Monetary Fund (IMF). The US dollar’s value decreased by 25 paisas, bringing the exchange rate down to Rs277.60.
Market experts credited this dip to improved investor confidence and positive sentiment following the IMF deal, which signaled better economic stability for the country.
Simultaneously, the Pakistan Stock Exchange soared to an unprecedented level on Thursday, buoyed by the same optimistic market sentiment. The KSE-100 Index experienced a sharp rise of 450 points, climbing to a record high of 82,700 points during the trading session, with the index briefly touching the 83,000-point mark—an all-time peak.
The approval of the IMF loan program is seen as a significant boost to Pakistan’s financial outlook, resulting in heightened trading activity. At the start of the session, the market surged by more than 600 points, ultimately reaching a new record of 82,900 points with an increase of 635 points in the KSE-100 Index.
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