Dollar loses 96 paisa against rupee in interbank trading, closes at Rs277.62

ISLAMABAD (APP) - Pakistani rupee on Friday witnessed the 27th consecutive recovery session as it gained 96 paisa against the US dollar in the interbank trading and closed at Rs277.62 against the previous day’s closing of Rs278.58.

According to the Forex Association of Pakistan (FAP), the rate of the dollar in the open market stood at Rs278. The price of the Euro decreased by Rs 2.85 to close at Rs 293.08 against the last day’s closing of Rs 295.93.

The Japanese Yen lost one paisa to close at Rs1.85, whereas a decrease of Rs 3.43 was witnessed in the exchange rate of the British Pound, which traded at Rs339.19 as compared to the last closing of Rs342.62.

The exchange rates of the Emirates Dirham and the Saudi Riyal declined by 26 and 25 paisa to close at Rs75.58 and Rs74.01 respectively.

Meanwhile, the 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Friday and gained 721.76 points, a positive change of 1.48 per cent, closing at 49,493.47 points against 48,771.71 points the previous day.

A total of 556,389,862 shares valuing Rs.15.450 billion were traded during the day as compared to 342,287,229 shares valuing Rs.11.735 billion the previous day.

As many as 362 companies transacted their shares in the stock market, 240 of them recorded gains and 101 sustained losses, whereas the share price of 21 companies remained unchanged.