KARACHI: The Pakistani rupee managed to pull the stock market out of the recession. Today the market remained in the positive zone throughout the day. Dollar became cheaper in interbank and open market. The price of gold also dropped significantly.
According to details, the rupee came to rescue the stock market. Falling stock markets supported the rupee and trading remained in the green zone throughout the day. According to traders, the market is waiting for talks between the government and the opposition.
If the parties reach an agreement on the final date of the elections, investors will return to the market with confidence. There is a short-term trend in the market. Investors are reluctant to make any big and long-term investments.
The Hundred Index closed at 41 thousand 264 after an increase of 124 points. The rupee finally took control of the dollar. For two weeks, the rupee has outpaced the dollar in a battle of dominance.
The price of the dollar in interbank decreased by one rupee fifty eight paise to two hundred and twenty rupees ninety paise. In the open market, the dollar became cheaper by fifty paise to two hundred and twenty seven rupees. The price of gold in the world market decreased by four dollars while in Pakistan it decreased by eighteen hundred rupees. The price of one tola of gold came to one and a half lakh rupees.
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