Rupee registers gains against US dollar

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KARACHI: The Pakistani rupee gained 22 paise to trade at 154.85 versus the US dollar in the Interbank market at the start of the day’s trading.

According to foreign currency dealers, the dollar depreciated 22 paise and is trading at 154.85 against the local currency (Pakistani Rupee) in the interbank market.

On the other hand, the Pakistan Stock Exchange (PSX) also saw its benchmark KE-100-Index bouncing back with 838 points at the start of trade.

The PSX and the stocks across the globe tumbled after Iran attacked US troops in Baghdad, Iraq with ballistic missiles on Wednesday.

However, investor confidence improved after US President Donald Trump’s address to his nation in which he ruled out direct military action against Iran.

The 100-Index once again surged above the 42,000 level this morning and is currently trading at 42,195 points.

The Pakistan Stock Exchange Wednesday had witnessed a bearish trend due to panic selling after Iran’s missile attack on US-led forces in Iraq.

BRIndex100 lost 75.38 points or 1.72 percent to close at 4,318.52 points. BRIndex100 touched intraday high of 4,394.99 and intraday low of 4,298.40 points. Volumes stood at 254.512 million shares.

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