As the Shanghai Cooperation Organization (SCO) meeting takes place in Islamabad, the Pakistan Stock Exchange has hit an impressive milestone. The benchmark 100 Index rose to 86,513 points, marking an increase of 603 points from its previous close at 85,840 points. This significant rise shows a positive trend in the market and highlights investor confidence.
Meanwhile, in the interbank market, the value of the US dollar saw a slight increase against the Pakistani rupee. The dollar’s rate inched up to 277.75 PKR, just 1 paisa higher than yesterday’s closing rate of 277.74 PKR. Although this change is minimal, it reflects the ongoing fluctuations in the currency market.
These developments in both the stock and currency markets come at a time when Pakistan is hosting an important international event, the SCO meeting, which could further impact the economic landscape. The stock market’s upward movement is seen as a sign of optimism, while the slight rise in the dollar shows continued pressure on the exchange rate.
